Ready for Baby-Boomers?

From The Economist (Jun 9, 2005)

Ready for baby-boomers?

America’s Pension Benefit Guaranty Corporation said that companies with underfunded defined-benefit pension plans had filed shortfalls of $353.7 billion in 2004. (Entities that have more than $50m in underfunded liabilities are required to report to the PBGC�the estimate for the total shortfall of pension plans is $450 billion.) This week, United Airlines transferred $6.6 billion of liabilities to the government agency. The PBGC is deeply concerned about the liabilities of other airlines.

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