Friday, October 08, 2004

'Pension Fairness Act'

Political expediency forces pols to do something against the most easily villianized - rich executives.

Don't misunderstand, I'm not saying the execs at bankruptcy-declarings companies are not capable of rapacious action.

What I'd like to see, and maybe it is too above-board for pols, is a system where companies that offer a pension only offer a cash contribution.

A contribution that must be funded every year. No projected growth rates. No promises without funding. No stock in lieu of cash.

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