Pension Funds Beg Congress to Suspend Billions in Contributions |

Pension Funds Beg Congress to Suspend Billions in Contributions

By Brian Faler

Dec. 8 (Bloomberg) — Pension funds at Pfizer Inc., International
Business Machines Corp., United Parcel Service Inc. and dozens of
other companies have joined the parade of businesses seeking relief
from Congress amid this year’s economic meltdown.

Instead of money, they want legislation to suspend a federal law that
would make them pump billions of dollars into retirement plans to
offset stock-market losses as many struggle to find enough cash just
to stay in business. They’re pressing Congress to consider the issue
this week before this year’s session adjourns.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aBAw1CQXcZMg&refer=home

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