A Little Less Red Ink For The PBGC In '07

Law360, New York (November 16, 2007, 12:00 AM EST) -- The government agency that bails out private pension plans when companies go bust ended up with a $13.1 billion shortfall this year, which is a substantial improvement over previous years.

In its annual financial report submitted to Congress this week, the Pension Benefit Guaranty Corporation said its bottom line for fiscal year 2007 was much better than last year, when the agency faced $18.1 billion in red ink.

“A robust economy, strong investment returns and higher valuation interest factors have combined to reduce PBGC's current deficit,”...
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