Pension Fund Guaranty Corp. Reports Loss: The...
From Times Staff and Wire Reports
Pension Fund Guaranty Corp. Reports Loss: The federal agency that protects many corporate pension plans from financial collapse has reported a $780-million loss in its operations last year. The Pension Benefit Guaranty Corp. had enjoyed a profit of $451 million in the prior year ending Sept. 30 but has been hit hard by the collapse of Eastern Air Lines Inc. and some smaller firms. Officials, complaining that too many corporate plans were under-funded, said the Bush Administration plans to back legislation to help tighten up the funding.
