General Lee
Well-known member
- Joined
- Aug 24, 2002
- Posts
- 20,442
US Congress approves pension relief bill
Thursday April 8, 3:10 pm ET
WASHINGTON, April 8 (Reuters) - Legislation expected to save U.S. companies over $80 billion in pension contributions over two years was passed on Thursday by the U.S. Congress and now goes to President George W. Bush for his expected signature into law.
Final action on the bill came with approval by the Senate. The measure had already passed the House of Representatives.
The bill would provide about $80 billion in pension accounting relief through the end of 2005 for some 31,000 U.S. companies with traditional "defined benefit" pension plans. There would also be $1.6 billion in extra aid for a handful of steel companies and major U.S. airlines, along with help for a small percentage of the 1,600 pension plans sponsored by more than one employer
I am sooooo glad Delta already pre-funded their pensions (not even pilot pensions) EARLY. They could have used the $400 million to fight off expensive fuel prices right now----and then when (or if) fuel prices went down within the next two years----funded the pensions when the contract was settled and fuel prices went down. But, what do I know?.........???
Bye Bye--General Lee
Thursday April 8, 3:10 pm ET
WASHINGTON, April 8 (Reuters) - Legislation expected to save U.S. companies over $80 billion in pension contributions over two years was passed on Thursday by the U.S. Congress and now goes to President George W. Bush for his expected signature into law.
Final action on the bill came with approval by the Senate. The measure had already passed the House of Representatives.
The bill would provide about $80 billion in pension accounting relief through the end of 2005 for some 31,000 U.S. companies with traditional "defined benefit" pension plans. There would also be $1.6 billion in extra aid for a handful of steel companies and major U.S. airlines, along with help for a small percentage of the 1,600 pension plans sponsored by more than one employer
I am sooooo glad Delta already pre-funded their pensions (not even pilot pensions) EARLY. They could have used the $400 million to fight off expensive fuel prices right now----and then when (or if) fuel prices went down within the next two years----funded the pensions when the contract was settled and fuel prices went down. But, what do I know?.........???
Bye Bye--General Lee
