New Retirement Legislation - Not What You Think ...

But no matter. The next questions are how - if you wish - you should challenge this snow job.

Start with the SIA site, at http://cw2k.capweb.net/sia2/letterstate.... and click on "State Links" to find your state's site, from which you can track down your senators with a note of your own. Tell them the public has not been fooled by this junk, and demand him or her to withdraw support until any mention of cash balance provisions is striken from the wording.

If you are undecided on where you stand, find out more. Fidelity's link does highlight the more positive provisions nicely (what a surprise). For a succinct, balanced view of the pros and cons of cash balance plans, look to the American Association of Retired Person's "AARP's Perkins Criticizes Cash Balance Pension Plan Conversions," at http://www.aarp.org/press/2000/nr060500a... For the "pro" side, refer to the American Benefits Council's "Cash Balance Bulletin," at http://www.appwp.org under "Issues," "Pension," then Cash Balance Plan."

At least if you decide you don't agree with me, I hope you DO agree that tacking on irrelevant provisions to congressional legislation - and using corporate strength to build support of something that may be lousy for less-powerful individuals - are nasty habits that ought to stop.

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