Pensions bill still on the table but not moving

[Algorem]

http://www.cleveland.com/newsflash/cleveland/index.ssf?/base/washington-0/1130091844268381.xml&storylist=cleveland

10/23/2005, 2:17 p.m. ET
By JIM ABRAMS
The Associated Press

WASHINGTON (AP) — Nearly everyone — business, labor, Republicans, Democrats — agrees that something must be done to sustain company-based pension plans and make sure that the federal agency insuring them doesn't become a financial basket case.

Getting Congress to agree on legislation is another matter.

The Senate, on the verge of passing a bill several weeks ago, has since stalled, unable to come to terms with several lawmakers, backed by business and labor groups, who oppose requiring companies with poor credit ratings to pay more into their pension funds.

Proposals to change the annual premium that companies pay into the federal fund that insures benefits — now $19 per participant — could mean a premium as high as $46.75...