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U.S. Pension Insurer Posts Record Deficit for FY 2015

Submitted by jhartgen@abi.org on

The deficit racked up by the federal agency that insures pensions for about 40 million Americans has increased 23 percent to $76.4 billion, the Associated Press reported yesterday. The agency's program for multi-employer pension plans continues to account for a large share of the deficit, $52.3 billion. The deficit reported yesterday for the year ended Sept. 30 was the widest in the 41-year history of the Pension Benefit Guaranty Corp. It has now run shortfalls for 13 straight years.

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