Pensions Said to Be Billions Short: The...
From Times Staff and Wire Reports
Pensions Said to Be Billions Short: The nation’s 50 largest under-funded pension plans have a potential combined shortfall of more than $14 billion, the government’s Pension Benefit Guaranty Corp. said. The National Assn. of Manufacturers called the listing “misleading and potentially damaging.” The agency, which guarantees payments on private-sector pension plans that fail, said the firms on the list were not necessarily in poor financial health or guilty of failing to properly fund their pension plans. However, it said, some of the plans are linked with financially weak firms that do pose a risk to the pension guarantee fund.
