http://story.news.yahoo.com/news?tmpl=story&u=/nm/20030125/ts_nm/financial_p
ensions_dc_3
<<------------quote--------------
Some lawmakers, including Democratic Rep. George Miller of California,
have
expressed fears that American retirement benefits are at risk, and urged
hearings. In the Senate, Republican Charles Grassley of Iowa has expressed
concern about the state of traditional pension plans.
Other lawmakers hope the difficulty will pass when the stock market
resumes
its upward climb and companies are better able to fund their own pensions
plans as a result of getting better returns on their investments. But no
one
knows when this would happen.
At the moment, those plans are hugely underfunded, when the long-term
liabilities are compared with what companies have set aside to pay them.
Steve Kandarian, the executive director of the agency, said last month
that
traditional U.S. pension plans were underfunded by some $300 billion. This
raises the possibility of more pension fund failures that could add to the
agency's burden.
------------endquote------------>>
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