We might need to start a whole, separate sub-site just to track the different institutions lobbying Congress for help. Now that we’ve lost so much money — $29 trillion this year — there are some deeply depleted coffers that need refilling. And though the general banking bailout might, in theory, help everyone, pensions are demanding, shall we say, more targeted relief.
Bloomberg: A trade group whose members include Lockheed Martin Corp., Dow Chemical Co. and General Motors Corp. is pressing Congress to help close a record $200 billion deficit in U.S. pensions created by this month’s global stock-market collapse.The Committee on Investment of Employee Benefit Assets is kicking off a lobbying effort today to delay provisions of the Pension Protection Act that it says will force companies to drain cash flow to comply with funding rules set to take effect next year.
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