today announced additional actions to further reduce costs amid continuing global economic challenges.
CORPORATE PENSION CRISIS
The U.S. is going through a corporate pension crisis. Of the roughly $2.3 billion in U.S. corporate pension plans, roughly $500 billion sits in so-called frozen pensions that cap their benefits and or no longer accept new employees or contributions. And amid the market rout, pension funds are increasingly running huge deficits that will require companies to dip into their profits to make up that funding gap. Companies are searching for creative solutions to those problems.
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When any pension fund fails, usually as part of a bankruptcy, the government takes over its assets as well as its...
Top Sources: Corporate Pension Crisis
- New York Times
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