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Bush Budget Calls for Ban on Shutdown Pension Benefits
Business Insurance; free registration requiredLink to more items from this source
Feb. 8, 2005
Excerpt: The Bush administration is seeking a ban on the payment of so-called shutdown pension benefits. Under part of the proposal, outlined in the administration's fiscal 2006 budget package ..., the Pension Benefit Guaranty Corp. would eliminate guarantees for benefits payable as a result of plant shutdowns that occurred after Feb. 1, 2005. The effective date on the ban itself would depend on whether the benefits were promised as part of a collective bargaining agreement.

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