Business groups ask US Congress for relief on pensions

Newswire

NEW YORK, Oct 29 (Reuters) - Fifteen U.S. business groups have asked legislators to provide relief on pension plan funding rules to help companies whose plans were hit by market turmoil this year. The groups asked Congress to lower levels at which pension plans have to be funded and to clarify whether smoothing out the reported market values in pension plan assets would be permitted, according to a copy of the letter. The Oct 28 letter was addressed to Rep. Charles Rangel, Chairman of ...

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