Watchdog agency suggests freezing pensions
A California watchdog agency is calling on the governor and legislature to freeze pension benefits for current state and local government workers and overhaul the existing system, as the debate over retirement benefits for public employees has exploded nationwide.
Energy Future Holdings, the former TXU Corp. that is struggling with massive debt, told some workers Tuesday that it plans to freeze their pensions effective Sept. 25 and terminate the pensions by year's end.