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Retirement Protection Act Of 1994

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December 6, 1994 | KATHY M. KRISTOF
The nation's defined-benefit pension plans are $71 billion short of the amount needed to pay benefits to prospective retirees, Pension Benefit Guaranty Corp. said Monday. Partly as a result of low interest rates and poor investment returns, the gap between what companies have in pension reserves and what they've promised in retirement benefits widened nearly 34% in 1993 from 1992, government officials said. Roughly 8 million workers are at risk--and about 1.
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BUSINESS
December 6, 1994 | KATHY M. KRISTOF
The nation's defined-benefit pension plans are $71 billion short of the amount needed to pay benefits to prospective retirees, Pension Benefit Guaranty Corp. said Monday. Partly as a result of low interest rates and poor investment returns, the gap between what companies have in pension reserves and what they've promised in retirement benefits widened nearly 34% in 1993 from 1992, government officials said. Roughly 8 million workers are at risk--and about 1.
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