Although President Bush has focused retirement discussions on revamping social security, the Senate has been investigating corporate pension plans. This is an evolving page featuring news and resources on retirement in America.
Issue: Is There a US Pension Crisis?
Senate Hears Pension Plan Woes
The Senate Finance Committee heard from Northwest Airlines and Delta on Tuesday, as the airlines "said that they would need more relief from pension contributions by the end of the year..."
8 June 2005
Opinion: United Airlines and the US Pension System
An overview of editorial opinion on the United Airlines move to shed its pension obligations and the state of pensions in the United States. From coast-to-coast (and in-between), the refrain sounds the same...
19 May 2005
United's Pension Woes
Reflecting what may be the tip of a financial iceburg, United Airlines has joined the growing ranks of American corporations that have punted support for their pension program to a federally-created insurance fund...
15 May 2005
Social Security : A Look Back
None other than President Eisenhower (R), the self-proclaimed " militant liberal," spoke highly of New Deal programs such as social security and campaigned for national health care. He wrote that his administration was "committed to ...
9 May 2005
GM: $300 Billion in Debt
General Motors - the world's largest auto maker - announced its largest quarterly loss since 1992; its stock plummeted 14%... GM's pension fund is underfunded by $17 billion. Bush Administration "pension reform" efforts would penalize companies with underfunded plans. Will auto pensions follow those of the airlines and steel sectors? If so, who will foot the bill? American taxpayers?
17 March 2005
US Savings Rate Drops
Some might call this drop precipitous. From Alan Greenspan's testimony to Congress on 15 February: The sizable gains in consumer spending of recent years have been accompanied by a drop in the personal saving rate to an average of only 1 percent over 2004--a very low figure relative to the nearly 7 percent rate averaged...
16 February 2005