Yesterday, the Senate Committee on Health, Education, Labor and Pensions, or HELP, held a hearing to weigh the costs and benefits of funding certain ailing pension funds. Sen. Bob Casey (D-Pa.) has proposed legislation to aid some pension funds fed by multiple employers, such as some Teamsters benefit plans. Sen. More…
Yesterday, New York State comptroller Thomas DiNapoli announced that New York will end its fiscal year at the end of March with a $2 billion budget shortfall. Concurrently, Governor David Paterson announced that he would delay paying New Yorkers’ tax refunds until after the start of the new More…
Automotive News reports that if GM is forced to declare bankruptcy, the federal government could be forced to take on the burden of paying for the pensions of tens of thousands of retired autoworkers:
A General Motors bankruptcy could become a nightmare for the federal government’s Pension
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