Who Will Bail Out The Bailer? by Liz Moyer

The Pension Benefit Guaranty Corp. (PBGC), a 31-year-old insurance fund set up by Congress and paid for by premiums from corporate pension plans, is already technically insolvent and is projected to run out of cash entirely in 16 years unless lawmakers act. It's already $23 billion in the hole, and its deficit is expected to grow to as much as $91 billion in 20 years, according to the Congressional Budget Office.

posted by SARTRE @ 10/18/2005 07:21:00 AM