Relevant:
- 25 Bitter And Painful Facts About The Coming Baby Boomer Retirement Crisis That Will Blow Your Mind
- QE Adverse Side Effect #1: Corporate Pension Underfunding Hits Record $460 Billion Deficit, A $108 Billion Deterioration IN ONE MONTH
- Government pension agency braces for recession
- Budget deficit moves closer to $1 trillion mark
- U.S. fiscal year deficit widens to $666 billion
2012-11-19 — ap.org
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.
...
The agency has now run deficits for 10 straight years. The gap has grown wider in recent years because the weak economy has triggered more corporate bankruptcies and failed pension plans.
If the trend continues, the agency could struggle to pay benefits without an infusion of taxpayer funds.
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