Re: Thank you to people posting.

Posted by tally_ho_us on 13 December 2000 at 22:21:21:

In Reply to: Re: Thank you to people posting. posted by Brian Marks on 11 December 2000 at 14:34:45:

Well if one judge found one way and other judge found another way wouldn't
that mean that an appeal would be in order? Almost like a tie-breaker opinion.
I would also say that there does not seem to be clear cut/specific details on managing these
pension funds. It leaves too much to subjective opinion of the
judge overseeing the case. I may be way off base here - forgive me if so but I don't
see that there is clear cut rules when "surplus" are the fad of the day. Seems
that there are rules for normal running of the funds but not when surpluses like
we have seen are the norm. You may have to take the law route and change it
due to unusual conditions of the stock market that have driven up pension funds
to very high levels. You have to admit that a 10 year bull market is not normal - even
the analyst have stated that on many occasions on TV. It seems unclear what the rules
are when this condition occurs and how a company can "take advantage" of these conditions
to fund another fund of people and taking a contribution "holiday" for that selective group
of employees. In essence the company is taking a contribution "holiday" on one fund by
using the surplus of other fund. Doesn't seem right to me. Something is wrong with this
picture and we just have to keep digging until we see the light. It may take some understanding
of the law here. I am of course hopeless on that issue since I don't really know English law.
My comments are more thoughts that I hope will point to something that will help and I hope
you all take it that way.