More on the Pension Problem

Here is a follow-up to my entry a few days ago, “ANOTHER Corporate Accounting Problem?”. “Shortfalls in private companies’ pension plans soared to $111 billion last year, the highest level ever reported by the Pension Benefit Guaranty Corp.”

“”The implications of such massive shortfalls in pension funds are staggering,” said Rep. George Miller of California, the top Democrat on the House Education and Workforce Committee. Miller urged the Bush administration to investigate and ensure that workers’ retirement savings are not in danger.”