Sharp divisions mark pension reform debate
Employee Benefit News, May, 2005 by Tom Anderson
Pension reform proposals laid out by the Bush Administration and employer groups highlight a great schism in what the regulators and the regulated believe government should do to protect the ailing single-employer defined benefit system.
The administration's plan seeks to prevent a taxpayer bailout of the Pension Benefit Guaranty Corp. and would apply stricter rules to "financially weak" plans based on credit ratings. Employer groups, meanwhile, argue that tougher regulations would force more employers to freeze or terminate their defined benefit plans.
Employers' complaints
Some major companies have recently announced their intentions to exit from the DB system. In March, Motorola froze its defined benefit pension to new hires and will offer a bigger match...
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