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News That Pension Benefit Guaranty Corporation Will Diversify Portfolio to Include More Equities Ought to Concern Taxpayers
The Wall Street Journal; subscription may be required 
[Opinion] Mar. 26, 2008
Excerpt: The PBGC is a quasi-government agency -- a 'federal corporation' -- created in 1974 to guarantee pension benefits for U.S. workers and retirees. Operating as both an insurance business and pension fund, it is financed by corporate premiums and the assets it inherits when taking over failed pension plans. By the end of last year, the agency had amassed a $14 billion deficit, and the new policy is designed to erase that red ink with higher investment returns.
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