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.
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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