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Political Factoid

A pension plan is a deferred wage plan.
 
It is a promise by the employer*
to make future payments
of a prescribed amount
-- just like a mortgage
is a promise to make payments
in the future at a prescribed amount.
* A number of major corporations, (e.g., IBM and GM)
have broken such promises, as well as corporations
which simply failed to fund their pension plans properly,
many of which went out of business.
  • Allis Chalmers
  • Anchor Glass
  • Arrow Automotive
  • Bethlehem Steel
  • Bradlees
  • Caldor Corporation
  • Circuit City
  • Collins & Aikman
  • Cone Mills
  • Consolidated Freightways
  • Delphi Corporation
  • Delta Pilots
  • Durango Apparel
  • Eastman Kodak
  • Eastern Air Lines
  • Fairchild Corporation
  • Fleming
  • Grand Union
  • Hartmarx Corporation
  • Harvard Industries
  • Hayes Lemmerz International, Inc.
  • Henry I. Siegel Co.
  • J. A. Jones
  • Jacobson Stores
  • Kaiser Aluminum
  • Kaiser Steel
  • Kemper
  • Lehman Brothers
  • LTV Steel
  • McCulloch
  • Metaldyne Corporation
  • National Steel
  • Nortel Networks, Inc.
  • Northwestern Steel and Wire
  • Outboard Marine
  • Payless Cashways
  • Penn Traffic
  • Petrie
  • Piccadilly Cafeterias
  • Pillowtex
  • Polaroid
  • Reliance Insurance
  • Republic Technologies
  • Singer Company
  • Thorn Apple Valley
  • TWA
  • United Airlines
  • United Merchants and Manufacturers
  • US Airways
  • Weirton Steel
  • Westpoint Stevens
  • Wheeling Pittsburgh Steel
See also information from the AFL-CIA.

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Last updated * 2014-02-02
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