The Pension Benefit Guarantee Corporation, the federal agency that insures employee pensions if a company fails to meet its obligations, contends that General Motors' pension fund is $31 billion short of what it owes its workforce. GM's financial filings have shown that its pension plan is
fully funded. The disparity is the result of two different, and both legally acceptable, methods of tracking pensions.
See "G.M. and a U.S. Agency See Pensions in Different Lights", Mary Williams Walsh and Danny Hakim, The New York Times, October 2, 2005