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A Review of Pension Funding History and Current Legislation
The Washington Post; subscription may be required 
July 25, 2005
Excerpt: Because of numerous loopholes, tightening the pension rules failed to eliminate underfunding by many employers. But it did drive a lot of companies to terminate their pensions. In fact, the special tax-deferred savings arrangements -- yes, those would be your 401(k) plans and similar retirement accounts -- provided a seemingly painless way for employers to replace the traditional pension, escaping the new rules and shifting the risks of retirement saving onto their workers.
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