Since the collapse of the financial markets last fall, Congress has taken big swings at economic recovery legislation, including the $700 billion troubled-assets bill and the $787 billion stimulus package. In the midst of the behemoths, a modest measure approved in December eased some of the pension funding obligations placed on companies by the Pension Protection Act. Business lobbyists say that effort didn't go far enough. The relentless economic decline produced a $300 billion loss in pension funding in 2008 among the 100 largest corporate plans, according to a survey by Milliman Inc. They will have to contribute more than $50 billion to their plans in 2009.
BUSINESS GROUPS SEEK ADDITIONAL PENSION RELIEF Mark Schoeff Jr Workforce Management; Apr 6, 2009; 88, 4; Docstoc pg. 8 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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