The federal agency that insures private pension plans for millions of Americans logged a deficit of $18.1 billion this year, a big improvement from last year thanks to a new pension law. The narrower deficit for the 2006 fiscal year reported by the Pension Benefit Guaranty Corp. on Wednesday was down from a shortfall of $22.8 billion recorded in 2005 and a record $23.3 billion posted in 2004.
See "Pension Agency Posts $18.1B 2006 Deficit", Associated Press, The New York Times, November 14, 2006