Lawmakers have drafted legislation to create a new office withinthe Treasury Department, the Pension RehabilitationAdministration.
It would allow pension plans to borrow money to remainsolvent while providing retirement benefits for retirees andworkers.
According to a report in Chief Investment Officer, under theproposed program, pension plans would borrow money from the PRA anduse it to buy conservative investments to cover the cost of payingcurrent retiree benefits each month.
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