If you have vested in a defined benefit pension plan be advised: This is *NOT* a Dilbert/Dogbert spoof....
============== Treasury rules against pension plan transfers By CHRISTOPHER S. RUGABER 08.06.08, 1:31 PM ET
WASHINGTON -
The Bush administration dealt a blow to the already reeling financial services sector Wednesday, ruling that companies can't transfer their pension plans to large banks to be managed for a profit.
The Treasury Department and the Internal Revenue Service said that current law doesn't allow such transfers unless they are part of a larger transaction that also includes "significant business assets."
==>Despite the ruling, the Treasury Department indicated the Bush Administration would support legislative changes to allow the transfers to occur.