Pension bailout fund faces $227 billion in 2011 losses - Obama proposes quadrupling corporate fees

[banned from Kos]

http://www.businessinsurance.com/article/20111115/NEWS03/111119933?tags=|307|77

In addition, the agency could be hit with more big losses. It says its potential exposure to future losses from financially weak companies was about $227 billion in fiscal 2011, which ended Sept. 30, up from $170 billion the prior year.

During fiscal 2011, the PBGC took over 152 plans from financially ailing or failed employers, up from 147 the prior year. Since 1974, the PBGC has taken over more than 4,300 plans. In fiscal 2011, the agency paid about $5.5 billion to participants in failed single-employer plans, about the same as in 2010.

The current losses are accrued as future benefits.

Employers are objecting to higher fees as losses mount, of course.

[dkf]

1. Having a pension doesn't guarantee anything.

This is what happens when corporations can't make a decent profit...not only shareholders who may be pensions get hurt but also the pensioners of the corporation could get hurt.

Hate corporations, screw retirees.