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Politics : PRESIDENT GEORGE W. BUSH
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To: DavesM who wrote (224864)2/4/2002 4:38:07 PM
From: goldworldnet  Read Replies (2) of 769668
 
Yes, pensions can be protected by the government. One reason companies are moving away from pensions is that they have to keep them on their books. With 401k plans, the company makes a contribution and it is a done deal.

Back to pensions being protected, I do remember an airline (forget which one) filing bankruptcy in the '80s and their pension was federally guarantied. Funny part of the story was that when the government auditors finally got involved they discovered the company's lawyers had been charging up to 28 hours a day to the company's assets. I personally read about it in the Dallas Morning News, but don't know what happened after that. My guess is that John Q. Taxpayer got ripped off.

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