Efforts to provide corporations with relief from new pension funding rules that are kicking in just as stock and bond markets have conked out have drawn opposition from the highest of authorities the current administration.
Less than a year after most major companies found themselves operating with comfortable pension surpluses, many now are staring at the likelihood of ending 2008 with their defined benefit plans well in the red.
Like other big corporations saddled with unpredictable defined benefit pension burdens, IBM elected a few years ago to freeze its traditional pension plans and make improvements to its 401(k) plan. But that's where the similarities end.
T. Britton Harris IV is preparing for a roundup of about a dozen new senior staff members in advance of a plan by the Texas Teachers fund to move a herd of money into the valley of alternative investments for the first time