More pension troubles

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More pension troubles

Post by Scott Liebling on Wed Mar 01, 2017 8:13 pm

The clock is ticking for 71 penniless union pension funds that rely on a federal insurance company to support their retirees — because the agency itself is also running out of cash, its director said Wednesday.

The Pension Benefit Guaranty Corporation’s limited liquidity is part of the spiraling U.S. pension crisis that threatens to wipe out the retirement savings of more than a million Americans.
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Scott Liebling

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