12-23-2003, 08:07 PM
Enron's did not have a pension plan. Enron had a 401K plan where employees had the option to place their contributions in Enron stock. Many Many companies have used this device to increase the monies invested in their stock, thus raising the stock value (artificially) and many employees have lost their retirement savings when the company went bankrupt. If a company goes bankrupt, the pension is covered by the PBGC and the pension assets which are completely separate from the company and cannot be touched by creditors.
<img src="http://www.blazingconcepts.com/img/syd/sloatsig.jpg">
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<center>Boy the way Glen Miller played,
songs that made the hit parade,
guys like us we had it made,
those were the days,
and you know where you were then,
girls were girls and men were men,
mister we could use a man like Herbert Hoover again,
didn't need no welfare states
everybody pulled his weight,
gee our old Lasalle ran great,
those were the days!</center>
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<center>Boy the way Glen Miller played,
songs that made the hit parade,
guys like us we had it made,
those were the days,
and you know where you were then,
girls were girls and men were men,
mister we could use a man like Herbert Hoover again,
didn't need no welfare states
everybody pulled his weight,
gee our old Lasalle ran great,
those were the days!</center>