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The Pension Benefit Guaranty Scandal That Isn't (at Least Not Yet)
Time Inc.
Apr. 1, 2009 Excerpt: The Boston Globe had a story Monday (which is making the rounds today) about the Pension Benefit Guaranty Corporation's decision last year to switch from investing mostly in fixed-income securities to a mix of 45% fixed-income, 45% equities, 5% real estate and 5% private equity.... There's a big difference between deciding to put and actually putting, though, and while the Globe reported that the agency 'refused to say how much of the new investment strategy has been implemented,' a quick look at the PBGC's Annual Management Report (available here) for the fiscal year that ended in September reveals that the answer is probably not much. MORE >> |
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