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Comments of American Academy of Actuaries on Multiemployer Provisions in Senate Pension Funding Bill (PDF)
American Academy of Actuaries Mar. 8, 2004 Excerpt: Relief of this nature is critical for many multiemployer plan sponsors. It would allow trustees additional time to resolve the continued financial strain these plans are experiencing through a combination of contribution increases ... and benefit level adjustments. The current crisis was brought about by recent economic experience following restrictive tax regulations that prevented the development of strong funding margins in the 90s. |
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