Blogging Employee Benefits

October 19, 2006

Pension Villain’s Elegy

Filed under: Pensions — Fuguerre @ 11:57 pm

The risk’s not worth the burden. Time to freeze.
But not to worry: we have a great 401(k)!
This cut will benefit our employees.

FAS 158 gives our balance sheet the squeeze
While our cash projections wobble from PPA.
The risk’s not worth the burden. Time to freeze.

Our workers need to be their own trustees.
Just educate them; they’ll learn to find their way.
So this cut will benefit our employees.

Our old plan’s tangled up in legalese.
The DB pension system’s seen its day.
The risk’s not worth the burden. Time to freeze.

Our competition’s boosted their DCs,
And what works for Wall Street’s good for the U.S.A.
This cut will benefit our employees.

We know you thought we promised more, but please,
Eventually as a hybrid plan we may.
The risk’s not worth the burden. Time to freeze,
And this cut will benefit our employees.

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2 Comments »

  1. Exective comp not cut, but increase,
    Including lifetieme income with guarantees.
    Cost must be cut elsewhere. Time to freeze,
    And this change will benefit highly paid employees.

    Comment by Ed — October 20, 2006 @ 2:51 pm

  2. I hope our 401k can save the day
    It will…. if we can save more pay

    Comment by Nancy — October 20, 2006 @ 8:31 pm


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