US - The Pension Benefit Guaranty Corporation (PBGC) saw its annual deficit increase by 4.5% to $23bn in the year to September 30, up from $22bn the previous year.
Despite taking in $2.3bn in premiums and $7.8bn in investment income (a return of 12%), the agency said its total obligations increased by $11.5bn, leaving it with $79.5bn in assets to cover obliga...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
