White House Seeks Revised Pension Rules NYT

[Nambe]

he Bush administration is preparing this week to introduce long-awaited pension legislation that could reduce corporate pension liabilities by billions of dollars over the next two years, but would require companies to handle plans more rigorously after that.

At first, the proposal would increase the stress on the pension system because it would allow companies to put less money into their funds. After two years, however, companies would have to begin calculating their pension values in an entirely new way. In the past, companies have resisted this method, but independent analysts have praised it as more accurate and prudent than the current methods. ---

The proposal, described yesterday by senior Bush administration officials, is expected to be added as an amendment to an existing pension bill in the House, sponsored by Rob Portman, Republican of Ohio, and Benjamin L. Cardin, a Maryland Democrat. Certain elements of the administration proposal conflict with elements of the Portman-Cardin bill, and administration officials said those conflicts would have to be worked out separately. ---

Ride Don’t Drive It’s Global Cool

[indictrichardperle]

1. so for all the corrupt CEO's

who take the cash and run in the next 2 years, as more fraudulent corporations go belly up.....theyre off the hook

More old folks eating dogfood.

[Jackpine Radical]

2. Yup. 2 years of legalized theft from the pension plans

Bush is re-elected & -- well -- maybe we'd better leave those interim rules in place.

[fshrink]

3. Exactly. That's where the money is right now.

It's also been one of corps' favorite tricks for the last several years. So the meaning is: get your cash now and we'll work something later, once we've found the loopholes we need, and in the mean time nobody will see jack.

[Bozita]

5. Standard operating proceedure as seen by Republicans.

You shouldn't have trusted the Dems.

The Republicans are merely clarifying the pension issue.

GUARANTEED: Your pension will be a bit lighter than previously scheduled.

God bless America.

[diamond14]

4. is this a Neil Bush kind of idea?....those bush-boys sure know

how to loot Savings and Loans, Pension Funds, and the U.S. Treasury...