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Pension Agency Deficit: $10 Billion


Reuters: The U.S. agency that provides a safety net to company pension plans will announce a $10 billion deficit this week, a congressman said on Tuesday, warning that it raised the prospect of a taxpayer bailout. It would be a record deficit for the Pension Benefit Guaranty Corp. (PBGC), which a year ago reported its worst year ever and has seen its deficit only grow since then.


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