Thursday, August 17, 2006

Bush signs pension bill

Back in May I lauded a Bush administration proposal on pension reform.

Today, Bush signed the pension bill into law.

It doesn't mirror the president's proposals exactly, but the big stuff is there: stricter funding rules and greater disclosure. Most of the noise and criticism surrounding the bill have focused on Congressional provisions, such as special treatment for airlines and defense contractors and legislation covering cash-balance plans.

Overall it appears to be a decent bill that will force companies to make good on the promises they make their workers -- and hopefully prompt them to make more realistic promises in the future.

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