Nonprofits face pension crisis 10/5/09

Independent Sector, a national coalition public charities, private foundations, and corporate giving programs, has renewed its call for Congress to ease rules that require charities and other employers to make certain payments to “defined-benefit” pension funds. Many employers, including nonprofit organizations, that sponsor defined benefit pension plans will soon be required to make large catch-up contributions into their pension funds due to the decline in the financial markets and new pension funding rules that require the losses to be repaid within seven years. Details; http://www.independentsector.org/programs/gr/Pension_Plan_Funding_Relief.htm.