Business has figured out pay as you go doesn't work. When will Congress?
From today's Washington Post:
"International Business Machines Corp. said yesterday that it will freeze the pension plans of some 120,000 employees in the United States, effective at the end of next year, and will offer instead an improved 401(k) plan.
IBM's move is part of a corporate stampede away from traditional pension plans. IBM officials called the change essential to remain competitive with foreign and domestic information-technology rivals."
