LABOR: At Last: Pension Reform

Private pension funds constitute one of the largest unregulated pools of capital in the U.S. economy not subject to strict federal regulation. Estimates of the money paid into those plans go as high as $185 billion, and 23 million or more Americans are relying on those dollars to help provide a comfortable standard of living after they retire. Unfortunately, all too many of them have had no real assurance that they will ever see a cent of the money. Now workers can breathe somewhat easier: Congress is set to enact this week a long-overdue pension reform bill designed to...

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