| Preserving Pensions Bill |
| 11/2/2009 |
| Over the past couple of years, many employees have lost their pensions because of a bad economy. Representative Earl Pomeroy says he`s introducing legislation that can change all of that. The "Preserve Benefits and Jobs Bill" extends the amount of time employers have to fund pensions. Pomeroy says 15 years should give the economy time to bounce back. Employers now have seven years. Pomeroy says it will help keep employers from having to cut off pension plans, lay off employees or cut back. "At the very time we want the economy to recover and businesses to expand, we don`t want to push these businesses into pulling back on business expansion just so they can send a check to the pension fund, driven by an ultra conservative funding formula," Pomeroy says. Several North Dakota employers joined Pomeroy in showing support for the bill. |
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