Manufacturing Industry
US Senate fails to agree on pension proposal
Airline Industry Information, Nov 26, 2003
AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD
The US Senate has failed to agree on a proposal for easing pension funding requirements for airlines and other industries.
Supporters of the plan had reportedly hoped to bring up the measure for a voice vote yesterday (25 November) before the recess for the Thanksgiving holiday. The Senate will return for an abbreviated session on 9 December 2003.
The proposed bill would grant a two-year moratorium on catch-up contributions to companies with extra-large pension shortfalls, reported Reuters.
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