House, Senate Work on Pension Plan Relief

[demdave]

WASHINGTON - Companies burdened by their pension obligations would get temporary relief while their workers would win new retirement plan protections under legislation approved Wednesday by the Senate Finance Committee.



Senior House Republicans also introduced a narrower bill aimed specifically at helping the private pension plan system, which is reeling from low interest rates, the sluggish economy, stock market losses and an increase in retirees.

The Senate bill would give the nation's 32,000 pension plans three years of less costly contributions before putting in place a more permanent and tougher system for calculating payments. The sponsors are Sens. Charley Grassley, R-Iowa, chairman of the Senate Finance Committee, and Max Baucus of Montana, the committee's top Democrat.

http://story.news.yahoo.com/news?tmpl=story&cid=512&ncid=703&e=8&u=/ap/20030917/ap_on_go_co/congress_pensions

[papau]

1. more permanent and tougher system -promise by GOP - in 3 years?

Why do I not think this will happen?

Why do I believe the lower funding requirement will continue - just like tax cuts - as long as the GOP controls Congress.

Actually they are under the gun to pass "something" by Nov 1 at which point higher contributions again become law. So this will pass.