The federal agency that insures pensions for more than 40 million
Americans last year ran the widest deficit in its 38-year history.
The Pension Benefit Guaranty Corp. said Friday that its deficit grew to $34 billion for the budget year that ended Sept. 30. That compares with a $26 billion shortfall in the previous year.
Pension obligations grew by $12 billion to $119 billion last year. Assets used to cover those obligations increased by only $4 billion to $85 billion.
Read more: http://washingtonguardian.com/us-pension-insurer-runs-record-34b-deficit
The Pension Benefit Guaranty Corp. said Friday that its deficit grew to $34 billion for the budget year that ended Sept. 30. That compares with a $26 billion shortfall in the previous year.
Pension obligations grew by $12 billion to $119 billion last year. Assets used to cover those obligations increased by only $4 billion to $85 billion.
Read more: http://washingtonguardian.com/us-pension-insurer-runs-record-34b-deficit
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