Which companies want pension relief?
Verizon sent me the full letter, including signatories, of pension sponsors requesting relief from Capitol Hill.
Sez AP:
With pension funds facing billions of dollars in shortfalls as markets plunge, major companies are pushing Congress to suspend parts of a two-year-old law that they say could force them to cut jobs as they shift scarce money into ailing retirement pools.The lobbying effort aims to change a 2006 pension reform law as part of any economic stimulus plan in a lame-duck session of Congress that begins next week. Companies say the current law could force them to tie up cash they desperately need in the face of a global recession.
Signers include: W.R. Grace, Aegon, FMC Corp., Northrop Grumman, Venable and Verizon.







Comments
Are you able to share the list of groups/companies that signed the letter? If not, is that information available somewhere?
Thanks.
Posted by: Robert Simpson | November 18, 2008 10:31 PM