Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (2958)	7/23/2002 10:55:17 AM
From: stockman_scott	of 89467

Federal Pension Agency hit with economic woes From the Boston Globe... Excerpts: The federal agency that guarantees the pensions of nearly 44 million Americans is taking a pounding, as the economy forces old-line businesses into bankruptcy. The Pension Benefit Guaranty Corp., which posted a surplus of nearly $10 billion in the fall of 2000, had a cushion of less than $5 billion at the end of April. The surplus has continued shrinking since then, as more businesses have folded and as the agency has bailed out the pension programs of the failed firms...In a worst-case scenario, taxpayers might have to pay for pensions guaranteed by the agency...

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