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...opponents the proposal to waive temporarily rules that require employers with underfunded plans to accelerate plan contributions say its enactment would lead to bigger plan deficits, which ultimately may have to be picked up by taxpayers.
But lawmakers behind the proposal and their supporters say the provision would bring much needed financial relief to employers and encourage them to retain their pension plans.
Others, though, fear that the dispute over the proposal could sidetrack Congress and maybe stymie efforts to enact legislation-involving how pension liabilities are valued-that would benefit all employers, not just those with underfunded plans.
The controversy first erupted in September, when the Senate Finance Committee-following the lead of the House of Representatives-passed a sweeping measure that would discard the 30-year Treasury bond in favor of long-term corporate bonds as the debt instrument used by employers to value their pension obligations.
That change has been long sought by employers, who say the...
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