The Gopher
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If anyone still needed more evidence, United's move to terminate its pension plans provides the most glaring proof yet: a company can observe federal law scrupulously year after year, and still end up with a hopelessly insolvent pension fund.
Thirty years ago, President Gerald R. Ford signed the Employee Retirement Income Security Act, which was supposed to keep insolvencies from happening. The law, known as Erisa, requires companies that offer pensions to set aside money to secure the benefits. Companies are not supposed to guess; they must follow a detailed set of rules in calculating contributions.
http://www.nytimes.com/2004/11/06/business...agewanted=1&8bl
Thirty years ago, President Gerald R. Ford signed the Employee Retirement Income Security Act, which was supposed to keep insolvencies from happening. The law, known as Erisa, requires companies that offer pensions to set aside money to secure the benefits. Companies are not supposed to guess; they must follow a detailed set of rules in calculating contributions.
http://www.nytimes.com/2004/11/06/business...agewanted=1&8bl
