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: Mortgage Lender Implode-o-Meter

Who Ran Away With Your 401(k)?

By Implode-Explode Heavy Industries

"Snow's case is typical of the way corporate executives have, for the past 35 years, managed to gild their retirement benefits even as they hollowed out workers' pensions. It started with the 1974 Employee Retirement Income Security Act, the law ostensibly designed to ensure that workers could collect the retirement benefits they'd earned. It started with the 1974 Employee Retirement Income Security Act, the law ostensibly designed to ensure that workers could collect the retirement benefits they'd earned. ERISA brought some important reforms?including establishing the federal Pension Benefit Guaranty Corporation (PBGC) to help workers whose pensions went bust?but it also was riddled with favors to business. "

Full post as published by Mortgage Lender Implode-o-Meter on May 05, 2009 (boomark / email).