U.S. pension law reform under GATT: Retirement Protection Act trims benefits in Congressional effort to recover lost tariff revenues
Article Abstract:
The Retirement Protection Act of 1994 is part of the GATT enabling legislation. The purpose of the act's pension reforms is to help the government raise some of the money lost due to lower tariffs under GATT. Whether revenues increase will depend on how well the government anticipated taxpayer response to the changes. The reforms impose increased plan funding and management costs on employers and their success will depend on the ability of employers to bear the added burden. Enough plans could be terminated that government revenues would decrease rather than increase.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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Non-debtor protection isn't broad; contract, lease
Article Abstract:
Some measures can be employed to shore up the status of non-debtors when a party to an executory contract or unexpired lease files for bankruptcy. Bankruptcy Code Section 365 offers some protection to non-debtor parties when the debtor tries to take on a contract or lease, and contracting parties may also be able to draft a contract which falls outside this code section. Setting up prompt deadlines may help to mitigate non-debtors' losses during the period between the filing of the bankruptcy petition and the debtor's decision to assume or reject a contract.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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