Can the PBGC Ensure Pension Plans during the Bad Economy?

July 27, 2009

The Pension Benefit Guaranty Corporation ensures the retirement funds of nearly 44 million American workers and retirees, and now plans to assume responsibility for the pension plans of 70,000 GM workers. Lawmakers are concerned about PBGC’s growing deficit, which has tripled to roughly $33.5 billion in six months. Fellow Douglas Elliott says they have good reason to be worried, given the current economy.