PBGC beneficiaries growing at 6.1% annually
The Pension Benefit Guaranty Corp. announced Nov. 16 that it had a record deficit of $34 billion as of Sept. 30. According to the agency's 2012 annual report, the PGBC assumed responsibility for more than 47,000 people in 155 newly failed single-employer plans during the year. Since 2003, the number of participants receiving benefits has risen 6.1% annually to 781,160.
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