Pension plans of companies in the S&P 500 lost more than $100 billion on their pension investments in 2002 and ended the year with a $206 billion shortfall, according to an S&P report. Overall, the pension shortfall works out to roughly $10,000 per employee, S&P officials said.
Thirty-five of those companies ended 2002 with pension surpluses, compared with 264 in 1999, S&P spokeswoman Lynn Cohn said. Also, 308 companies were underfunded at the end of last year, compared with 79 at the end of 1999, according to the report. The full list of company pension figures is available at www.standardandpoors.com.