The Nation - News from Feb. 17, 1988
The AFL-CIO executive council, at its annual mid-winter meeting in Bal Harbour, Fla., called on Congress to enact legislation preventing companies from terminating pension plans without sharing all of the proceeds with workers. In recent years more than 1,500 pension plans have been terminated and “excess” assets recaptured by employers, according to the federal Pension Benefit Guaranty Corp. “Excess” assets are the surplus in a pension fund beyond what an employer is required by law to distribute to pension plan participants.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
