"Beyond the technicalities, the IRS's private letter ruling allows Saint Peter's to break the promise of guaranteed pensions that it repeatedly made to you throughout your work lives. As far as we are able to tell, the only reason for the ruling is that IRS officials do not want to admit that the agency has been misreading the law for many years.... [A] Saint Peter's retiree has filed a lawsuit in the New Jersey federal district court. The correctness of the IRS ruling, as well as other issues, will be addressed in that proceeding."  MORE >>