September 5, 2006
ANOTHER GIFT FROM THE DO-SOMETHING CONGRESS:
Pensions going by wayside despite new law (Jonathan Peterson, 9/05/06, Los Angeles Times)
When DuPont announced plans last week to scale back its traditional pension, it became the third large employer to cut back on retirement benefits since Congress passed the Pension Protection Act of 2006.The changes were brewing long before Congress passed the bill Aug. 3. But the flurry of cuts reflect a larger reality: The system of traditional pensions is in hasty retreat, and little in the new law is likely to stop the trend.
Because the point of the law is to accelerate the trend? Posted by Orrin Judd at September 5, 2006 8:34 AM
Comments
I've had to deal with the Pension Benefit Guaranty Corp (PBGC). Nice people but that govt. dept can't go out of business fast enough.
Posted by: AWW at September 5, 2006 9:27 AMSo let me get this straight. When you make something more expensive, you get less of it? Wow, I would have never guessed that!
Posted by: Robert Duquette at September 5, 2006 8:29 PM