Tuesday, May 6, 2003 | 9:45 a.m.
WASHINGTON -- A little-noticed provision in a House pension bill would let companies that employ blue-collar workers reduce their retirement obligations by billions of dollars because those workers on average don't live as long as others.
The measure, on page 111 of the 207-page bill sponsored by Reps. Rob Portman, R-Ohio, and Benjamin Cardin, D-Md., would let employers use a separate mortality table for blue-collar workers to determine their liability.
In essence, companies would not be required to pay as much into the pension plan because they could assume blue-collar workers will die sooner than other employees. The provision was first reported by The New York Times today.
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