A CIEBA report showed that three-quarters of the nation's top...

A CIEBA report showed that three-quarters of the nation's top corporate pension plans might cut their equity exposure if a series of current legislative and regulatory proposals dealing with accounting, funding and liabilities are enacted. The equity cuts would lead to an 8% to 12% decline in stock market values, falls in real GDP growth and short-term job losses, the report said. Also, if the proposals were adopted, about 50% of major U.S. corporations would likely reduce pension benefits, according to the Committee on Investment of Employee Benefit Assets.