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Pension advocacy group calls for temporary halt to lump-sum buyouts

Oct 19, 2012 @ 8:51 am EST

Over the last few months, several large companies, let by auto giants Ford and GM, announced plans to spin off their traditional pension plans by transferring their liabilities to an insurance company or offering lump-sum payouts to retirees and certain former workers. Verizon was the latest corporation to hop on the de-risking bandwagon, prompting calls from a leading pension advocacy group to halt such actions until Congress can review the impact on workers and retirees

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