Levin and Stabenow support pension bill

[Judi Lynn]

Levin and Stabenow support pension bill

August 6, 2006

ASSOCIATED PRESS

WASHINGTON (AP) -- Sens. Debbie Stabenow and Carl Levin helped the Senate approve pension legislation meant to ensure the future of pension plans for millions of baby boomer nearing retirement.

The Senate last week passed the bill 93-5 in its last vote before adjourning for a four-week summer break. The measure forces employers with defined-benefit pension plans to meet their funding obligations and tries to prevent companies from terminating plans and shifting the burden to taxpayers.

The bill, which was closely watched by the auto industry and manufacturers, was passed in the House and now moves to President Bush for his signature.

"In Michigan alone, millions of families are counting on their pensions for retirement security," Stabenow said. "Every day this bill was delayed it added new uncertainty and insecurity for workers and retirees who worried their pensions wouldn't be there for them."
(snip/...)

http://www.freep.com/apps/pbcs.dll/article?AID=/20060806/NEWS12/608060680/-1/BUSINESS07

[Robbien]

1. Of course they would

This pension bill bailout of the car and airplane industries will probably bankrupt the pension system. So it will save their states in the short run but harm the country in the long run.