What Happened to Greyhound US Drivers' Pension Plan

One business that is having trouble funding its pensions is Greyhound Lines, the bus company, which has gone through years of labor strife and bankruptcy. Several years ago, it quietly managed to get permission from Congress to stop putting more money into its drivers' pension fund. In essence, the Greyhound provision lets the company act as if its pension plan is fully funded, when in fact it is not. Greyhound, meanwhile, is seeking to expand its own break and to make it permanent, because the original exemption is set to expire in 2010. Now, as in 1997, Greyhound says special treatment is necessary because its plan covers an unusually old group of workers, whose life expectancies are shorter than national norms for all pension participants. Workers who won't live long enough to cash many pension checks don't require very big pension contributions. Read More>>>