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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.

Copyright 2002 NPR

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.