Is Your Pension Safe??

It seems that every day there is a story on the news about another large company defualting on pension contributions. The old defined-benefit pensions of the past are all but gone, and many retirees and workers will find out that they will not be getting everything they are entitled too.

President Bush asked Congress to craft a plan to help solve the problem and secure the future of America's retirees, but it appears Congress has dropped the ball and caved in to special interest groups.

The plans on the table are loaded with deals for lobbyists. Rather than being required to contribute more to pension funds to make up for the current $450 billion shortfall, corporate contributions would actually be reduced.

The government's Pension Benefit Guaranty Corp projects that the plans will only make the situation worse for the average American.