November 22, 2004
US taxpayers should save pension agency-UAW official
Taxpayers should rescue the agency that backs U.S. corporate pensions by covering its losses from pension failures in the airline and steel industries, a United Auto Workers official said on Friday.
UAW legislative director Alan Reuther estimated it would cost between $20 billion and $40 billion to cover the pension liabilities in the airline and steel industries that the Pension Benefit Guaranty Corp (PBGC) has absorbed or expects to absorb shortly.
Posted by Tom Troceen