Originally Posted by
BobZ
Not to excuse the carpetbaggers......but i think at the time pension trust contributions were limited similar to our individual savings limits.
I dont think a company was allowed to 'overfund' or frontload in good times to enable meeting funding mins thru bad times.
Imagine the gov allowing us to contribute up to 100% of our paycheck to self directed accounts? Lol
They would miss the tax revenue. Just a little bit.
Yes this was true and in fact in 1999 or so I remember reading that Delta actually petitioned the IRS (and was denied) to prefund the pension funds because they had profits and the Stockmarket was high which actually eliminated Delta's actual need to fund pensions (according to the feds).