New legislation set to shake up US pensions


Following lengthy arguments over how best to shape legislation to cure corporate America's ailing pension system, President George Bush signed the Pension Protection Act into law on August 17. The Act, which was passed by Congress prior to the start of its summer recess earlier in the month, has the potential to significantly change many aspects of corporate America's pension plans - from funding requirements to the role of hedge funds, and even the continued existence of some defined benefit

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