President Bush Signs Pension Reform Bill

Law360, New York (August 17, 2006, 12:00 AM EDT) -- U.S. President George W. Bush signed into law a pension reform bill on Thursday that is designed to close loopholes in the pension system, and particularly offers relief for employees at bankrupt Northwest Airlines Corp. and Delta Air Lines Inc.

The bill, hailed as the first major reform of U.S. pension laws in more than 30 years, affects more than 44 million U.S. employees and retirees in the pension system.

With U.S. pension plans falling short by as much as $630 billion, the 900-page bill intends...
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