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View Diary: Bwahahahahahaha! American Airlines and Bain Capital. (282 comments)

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  •  mdmslie - every defined benefit plan (1+ / 0-)
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    johnny wurster

    over a certain size pays an annual insurance fee to the PGBC which is the source of funds for the bailouts. The PGBC isn't financed by taxes. The Pension Benefit Guarantee Corporation was established by ERISA in 1974.  The insurance premiums are significant and is one of the many reasons that ERISA was the start of the switch from defined benefit plans to 401K type retirement programs.

    "let's talk about that"

    by VClib on Mon Feb 06, 2012 at 07:39:29 PM PST

    [ Parent ]

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