Pension plans deemed in "critical" condition -- likely to become insolvent because employers cut contributions or because of a reduction in the number of employees contributing to a fund -- would be protected by the legislation.
I do not know who is on the panel, but the three Senators sponsoring this legislation are weak at best. Casey - In the doghouse w/ Obama and Biden big time, Stabenow - Has never done anything...very weak Senator with no political pull, Burris - Damaged goods due to his tie-in w/ Blagojevich (disgraced former Illinois gov. who was caught on Fed. wiretaps trying to sell Obama's old Senate seat to the highest bidder).
Plus the American public has had their fill of government bailouts, we are in an election year and the economy is still a mess.
I just don't see this legislation going anywhere...and if anyone ever needed a bailout it is the Central States Pension Fund.
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