Blog: Spirit of Money, Financial Fluidity
by munificent

Reform=not paying?

Any of you who have read even a sprinkling of spirit of money- know that the Pension Benefit Guarantee Corp is broke- they just haven't come out and "reported" it until now!..It seems to me, after years of "knowing" and watching- our Large infrastructures never admit their insolvency until a year after the truth is known ...maybe this cushions the impact- kinda like discounting the market! Yes, it is probably planned this way- leak the bad news, suspect the bad news, talk about the repercussions of the bad news, and then admit all the bad news is in fact a reality- very interesting...then the whole economy can be preserved until it finally collapses.

Date:   11/16/2005 11:52:29 AM   ( 16 y ) ... viewed 1314 times

PBGC Chief: The Money Will Run Out
Washington Bureau -- NU Online News Service, Nov. 15, 2005, 6:03 p.m. EST

The Pension Benefit Guaranty Corp., the agency that insures U.S. workers’ defined benefit pension plans, ran a $23 billion deficit during the quarter that ended Sept. 30.

Unless Congress acts soon, “the money available to pay benefits is eventually going to run out,” says PBGC Executive Director Bradley Belt.

The PBGC reached Sept. 30 with only $56 billion in assets and $79 billion in liabilities, according to an annual report that the PBGC submitted to Congress Tuesday.

Higher interest rates helped the PBGC increased its investment income to $3.9 billion and reduce liability projections by $2.3 billion. That produced an overall net gain of $529 million.

But, down in the trenches, in operations, the PBGC collected only $1.5 billion in premiums and recorded $4 billion in losses from completed and probable pension plan terminations.

The PBGC’s estimate of exposure to “reasonably possible” pension plan losses reached a record of $108 billion in fiscal year 2005, up from $96 billion in 2004 and $82 billion in 2003. The PBGC’s estimate of the total shortfall at insured single-employer plans exceeds $450 billion.

The new PBGC report “serves as yet another troubling reminder that Congress needs to act on comprehensive reforms to our nation’s traditional pension system this year,” says Rep. John Boehner, R-Ohio, chairman of the House Education and the Workforce Committee.

Boehner has introduced a PBGC reform measure that is awaiting action on the House floor, and another PBGC reform measure is awaiting action in the Senate Finance Committee.

Add This Entry To Your CureZone Favorites!

Print this page
Email this page
DISCLAIMER / WARNING   Alert Webmaster

CureZone Newsletter is distributed in partnership with

Contact Us - Advertise - Stats

Copyright 1999 - 2021

0.063 sec, (2)

Back to blog!
Add Blog To Favorites!
Add This Entry To Favorites!

Comments (15 of 48):
Thanks for your in… kermi… 15 y
I wonder about wom… 9thbo… 15 y
everybody knows... drofin… 15 y
Taiwan/China Next? Rikki-… 15 y
I am sorry to hear… 9thbo… 16 y
Re: I have a retir… #4933… 16 y
Nope, I don't make… 9thbo… 16 y
commercial pitch mark777 16 y
oh well... drofinnah 16 y
Yes this may well … kermi… 16 y
First hand experie… 9thbo… 16 y
Depends on age/ris… 9thbo… 16 y
10% of portfolio i… #1923… 16 y
Hi K-! Hope all i… 9thbo… 16 y
WOW who would thin… kermi… 16 y
All Comments (48)

Blog Entries (12 of 249):
Reform=not paying?  16 y
70M embezzled?  16 y
IRS-Good to Know  16 y
Pension Liabilities  16 y
Motley Fool triggers  16 y
Fannie Mae-Error10.8B?  16 y
GmAC Pension Problems  16 y
House Ways & Means- Pensions  16 y
Corp.Pension Accounting  16 y
Risk/reward ratio  16 y
Tomato Bond?  16 y
US$$ @ 2 yr. HI?  16 y
All Entries (249)

Blogs by munificent (10):
Yoga Path  15 y  (396)
Cold Water Blog  15 y  (269)
Quantum Intelligensia  15 y  (267)
Leadership  15 y  (67)
BaBaGee Blog  15 y  (16)
Breathwork  16 y  (16)
Desire  15 y  (5)
Sacred Sex  15 y  (4)
Apothegm  15 y  (3)
Breathwork for wholeness  16 y  (3)

Similar Blogs (10 of 185):
My Unusual Road of …  by kerminator  11 h
Absolute Truth Some…  by Kerminator  5 d
Chef Jemichel ~ The…  by chef jem  80 d
Advices and tips on…  by Law Offices  82 d
Manifestation Magic…  by magic44  4 mon
David Sanderson’ Ul…  by manifestation11  8 mon
Five steps on how t…  by drawmoney7  8 mon
willson 456  by kaviharshu99  10 mon
Mobile Notary  by mobile-notary  14 mon
asinglemomstory  by loknathtechtro  16 mon
All Blogs (1,019)

Back to blog!

Kidney Stones Remedy
Hulda Clark Cleanses

Lugol’s Iodine Free S&H
J.Crow’s® Lugol’s Iodine Solution. Restore lost reserves.

Your Ad Here
Place your ad here !

Natural, Soothing, Progesterone Oil
Supplementation and Hormone Balancing Based on the...