Month: November 2008
Record profit yields underfunded pension
A recent article in Financial Week revealed a big surprise. ExxonMobil has the most underfunded defined benefit pension plan of all the S&P 500 companies. Yes, you read that correctly. A company yielding record profits has neglected to adequately fund its pension plan. According to the article, the ExxonMobil pension plan was funded at just […]
PRC letter key members of Congress regarding worker protections in pension funding relief legislation
November 14, 2008: The PRC sent a letter to key members of Congress, asking them to protect workers’ interests when considering measures to provide pension funding relief.