New Rule Signals Kiss of Death for Pensions
http://www.cnbc.com/id/100694955"This proves that pensions are pretty much dead," said Greg McBride, chief economist at Bankrate.com. "The change is just another charade to mask the underfunding of pensions and increases the odds of having less money for retirement."...
The pension change was part of a transportation bill—called Moving Ahead for Progress in the 21st Century or MAP-21—passed by Congress last June. The change became mandatory this year.
In essence, MAP-21 lets employers put less money in their pension plans by allowing them to value their liabilities— what they have to pay out to pensioners—using a 25-year average of interest rates instead of current rates.
A transportation bill??
Cuck Fongress!! 
= new reply since forum marked as read
daughter.
Too bad ladies, he's taken.
You will know them by their WORKS,
not by their promises or excuses.
[font size=5 color=green]Solidarity99![/font][font size=2 color=green]
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Democrats can NEVER seem to "sneak" things into bills that would be GOOD for the Working Class,
even when they hold Majorities in Congress and the White House? 
How come the Democrats can NEVER Hold the Republicans Hostage for something THEY want?
Why is it ALWAYS the Democrats who have to move to the Right to accommodate the Republicans?
How come I can NEVER pick the Queen when there is money on the table?
RU), today announced the completion of the transfer of retiree pension benefit obligations for approximately 110,000 salaried General Motors salaried retirees to Prudential. Under the terms of the agreement, Prudential has received approximately $25 billion in premium from the General Motors Retirement Program for Salaried Employees for the purchase of a group annuity contract. Effective January 1, 2013, Prudential will begin administering payments to these retirees.Convenient, eh? Gets the PBGC out of the picture.
.... hell they are doing up there. If this is not the definition of corruption, what is please tell me? And they have been doing this for decades. It's like lying. It started small and seemingly harmless, and just got worse and worse up through time. And now it appears there is NO conscience in our government. Do you think they realize they are doing something wrong when they sneak stuff in and out of those bills? This sickens me more than anything I've seen on DU lately. I know, it goes on all the time and has for a long time. We all know it. But why does a society of basically good people put up with this? Why do we roll over and forget about it? Shame on our lawmakers. And PO for signing such garbage. Does he read the bills he signs into law? Does he just assume the House and Senate would not do such a thing? Whatever happened to the "line-item veto"? 
