Eighty-four percent of senior finance executives polled by global CPA and business advisory firm Grant Thornton said that rules that allow companies in bankruptcy to turn over their pension obligations to the federal Pension Benefits Guaranty Corp. should be tightened. Meanwhile, senior finance executives surveyed in the GT poll want all companies to be held to a higher standard when it comes to accounting for their retirement liabilities, as 87 percent said that companies should be required to account for pension plans on their balance sheet.
The Grant poll comes as House and Senate lawmakers scramble to reconcile pension bills -- that would soften some existing pension guidelines by giving companies more time to cover pension shortfalls, adding pension exemptions for certain industries and specific companies, and calling for companies to pay higher premiums to the PBGC.
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