OTHER NEWS - Dec. 16, 1992

Under-Funding of Pensions Up 28% in 1991: The Pension Benefit Guaranty Corp. said under-funding of the 85,000 plans it insures for about 40 million workers grew 28% in 1991 to $51 billion. Liabilities for under-funded, defined-benefit pension plans totaled $214 billion, while assets came to $163 billion, the federal insurance corporation said. Under funding among PBGC’s single-employer plans increased to about $40 billion in 1991, from $31 billion a year earlier. About 70% of the under-funding was concentrated in plans sponsored by just 50 companies, primarily in the automobile, steel, airline and tire industries, the agency said.