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Workers at Risk in Crumbling PBGC Program
Ways and Means Committee, U.S. House of Representatives
[Opinion] Jan. 29, 2013
"Today, upon the release of three separate Administration reports on the private sector defined benefit pension system, Ways and Means Committee Chairman Dave Camp (R-MI) criticized the Obama Administration for failing to bring forward a plan to protect the pensions of American workers.... The FY 2012 single-employer program liabilities of $112.1 billion and assets of $83.0 billion result in a net deficit of $29.1 billion. The average (mean) and median projected results for FY 2022 are deficits of $29.9 billion and $32.5 billion respectively."
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