Mercer Select US - Many pension plans facing sharply higher 2010 contributions, Mercer tells Congress

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Many pension plans facing sharply higher 2010 contributions, Mercer tells Congress

Pension funding relief already provided by Congress and the IRS has reduced what would have been dramatically higher 2009 required contributions for many sponsors, but a cash crunch looms for the 2010 plan year, Mercer told a congressional panel. “Barring an enormous market recovery, we expect that many plans will face significantly increased required contributions,” said Mercer Principal Craig Rosenthal in testimony before the House Ways and Means Committee. Rosenthal presented findings from an extensive new Mercer study on the status of plans’ funding and credit balance levels. (Select News, 1 Oct 2009)

Many pension plans facing sharply higher 2010 contributions, Mercer tells Congress

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