Bill aims to protect pension benefits

A new bill before the state Assembly and Senate would force companies trying to convert New York retirees' pension benefits annuities to obtain permission before doing so from the state superintendent of Financial Services. Under the provision - introduced by Assemblyman Peter Abbate and state Sen. Tony Avella, both of whom are New York City Democrats - companies trying to convert pensions to annuities would have to provide all impacted retirees with disclosures related to the conversion.



http://blog.timesunion.com/capitol/archives/232150/bill-aims-to-protect-pension-benefits/