Page 27 - THE SOUTH CHINA BUSINESS JOURNAL
P. 27
In the meantime, these simple, but meaningful changes help employers help themselves by giving them the
flexibility to decide how to deploy hundreds of millions of dollars to the immediate needs of their workforce,
business, and community rather than tying it up in their otherwise well-funded pensions. (A February 2021
Milliman report found that the top 100 pensions were at 89.9% funded). They also have the option to fund up
their plans, if that is what works for them.
Contrary to some assertions, employers are not walking away from these plans, putting benefits at risk,
or bankrupting the system. The U.S. Chamber would argue that any employer that is dedicated enough to
maintain a pension plan in this day and age is dedicated to ensuring those promises are met. In fact, they are
legally obligated to do so. However, it is difficult to fulfill that promise if government action has made your
contributions so artificially high you may face bankruptcy instead.
Sometimes, the best solution
is to give businesses the
tools they need to help
themselves.
W. L. Gore & Associates is a global materials science company dedicated to transforming industries and improving lives. Since
1958, Gore has solved complex technical challenges in demanding environments — from outer space to the world’s highest
peaks to the inner workings of the human body. With more than 11,000 Associates and a strong, team-oriented culture, Gore
generates annual revenues of $3.8 billion. 12% of our revenue dedicated to research and development, with >3,400 unique
inventions. Gore is one of the 200 largest privately-held U.S. companies.
W. L. Gore & Associates Technologies (Shenzhen) Co., Ltd.
86-755-83598262
gore.com.cn
GORE, GORE-TEX, Together, improving life and designs are trademarks of W. L. Gore & Associates. © 2021 W. L. Gore & Associates, Inc.
flexibility to decide how to deploy hundreds of millions of dollars to the immediate needs of their workforce,
business, and community rather than tying it up in their otherwise well-funded pensions. (A February 2021
Milliman report found that the top 100 pensions were at 89.9% funded). They also have the option to fund up
their plans, if that is what works for them.
Contrary to some assertions, employers are not walking away from these plans, putting benefits at risk,
or bankrupting the system. The U.S. Chamber would argue that any employer that is dedicated enough to
maintain a pension plan in this day and age is dedicated to ensuring those promises are met. In fact, they are
legally obligated to do so. However, it is difficult to fulfill that promise if government action has made your
contributions so artificially high you may face bankruptcy instead.
Sometimes, the best solution
is to give businesses the
tools they need to help
themselves.
W. L. Gore & Associates is a global materials science company dedicated to transforming industries and improving lives. Since
1958, Gore has solved complex technical challenges in demanding environments — from outer space to the world’s highest
peaks to the inner workings of the human body. With more than 11,000 Associates and a strong, team-oriented culture, Gore
generates annual revenues of $3.8 billion. 12% of our revenue dedicated to research and development, with >3,400 unique
inventions. Gore is one of the 200 largest privately-held U.S. companies.
W. L. Gore & Associates Technologies (Shenzhen) Co., Ltd.
86-755-83598262
gore.com.cn
GORE, GORE-TEX, Together, improving life and designs are trademarks of W. L. Gore & Associates. © 2021 W. L. Gore & Associates, Inc.
