12/10/2001: Pension Funds Have Lost Billions (The Detroit News)Excerpt: "The 50 largest U.S. corporate pension funds lost 25 percent of their funding 'cushions' in 2000, thanks to a collective $38.2 billion decline in assets, according to a recent survey by Milliman USA, an actuarial consulting firm. Nonetheless, these same 50 funds were able to report total profits of $8.7 billion through accounting techniques designed to 'smooth' returns over a multiyear period, Milliman found."
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