PBGC Acting Director Vince Snowbarger will report to the Senate a 33.5 billion dollar mid-year deficit for the PBGC.
Document Excerpt
WASHINGTON—The Pension Benefit Guaranty Corporation posted a $33.5 billion deficit for the first half of fiscal year 2009, PBGC Acting Director Vince Snowbarger will tell the Senate Special Committee on Aging at a hearing today. Based on unaudited financial numbers as of March 31, the deficit represents an increase over FY 2008’s $11 billion shortfall, and is the largest in the agency’s 35-year history.
Link http://www.pbgc.gov/media/news-archive/news-releases/2009/pr09-30.html
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