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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (98790)	5/6/2003 10:03:07 AM
From: shadowman	Read Replies (1) \| Respond to of 132070

The hits just keep on coming!<g>(said with a 60's DJ inflection) House Considers Measure to Cut Billions in Pension Obligations By MARY WILLIAMS WALSH A bill pending in the House of Representatives would allow businesses with union workers to reduce their company pension obligations by billions of dollars, because statistics show that most blue-collar workers do not live as long as other Americans. The provision, which has gone largely unnoticed in a broad pension bill, is being supported by the United Auto Workers and manufacturing companies whose pension funds now have assets far short of what they are projected to need under previous assumptions about worker longevity. The measure would allow companies to assume that their blue-collar workers will on average die sooner than pension plans now assume they will. So companies, not having to plan to pay future blue-collar pensions as long as they now do, would not be required to put aside as much pension money as government regulations now require them to do. nytimes.com