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Is Defined Benefit Pension Plan Insurance the Next S&L Crisis?
Richard A. Ippolito for Cato InstituteLink to more items from this source
Sept. 29, 2004
Excerpt: The Pension Benefit Guaranty Corporation (PBGC), the federal agency that insures private-sector defined-benefit pension plans in the event of bankruptcy, is in bad shape financially and rapidly getting worse. From 2000 to 2003, the agency went from a surplus of $9.7 billion to a deficit of $11.2 billion.

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