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Economy & Business

Pension Plan Conversions Could Hurt Older Workers

The Bush administration prepares to lift a moratorium on a new, controversial type of pension, the cash-balance plan. The Treasury Department has released regulations indicating what companies must do when converting pensions to cash-balance. Companies with large numbers of older workers are especially interested. Critics say lifting the moratorium will lead to a flood of conversions that will hurt older workers. NPR's Jim Zarroli reports.

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