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National Retiree Legislative Network Would OK Proposed Delay in PPA Funding Rules If Accompanied by New Pension Protections
National Retiree Legislative Network
Nov. 18, 2008 Excerpt: Given the dire financial circumstances our country is experiencing, the NRLN's legislative team has concluded that we could accept a temporary delay in the implementation of pension funding and accounting requirements if Congress will include in any ERISA relief legislation the NRLN's proposals to protect pension assets. The measures we want included are: (1) Protect pension plan assets by preventing companies from using assets for restructuring expenses, such as paying lump-sum severance or layoff payments. (2) Prevent the purchase of pension plans by third parties, such as financial firms. (3) Prevent the use of pension plan assets to enhance deferred compensation of executives. MORE >> |
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