DEFICIT HITS RECORD: The federal agency that insures pensions for more than 40 million Americans last year ran the widest deficit in its 38-year history.
THE NUMBERS: The Pension Benefit Guaranty Corp. says its deficit grew to $34 billion for the budget year ended Sept. 30. That compares with a $26 billion shortfall in the previous year. Pension obligations increased by $12 billion last year, to $119 billion.
TROUBLING TREND: The agency has run deficits for 10 straight years. If the trend continues, it could struggle to pay pension benefits without an infusion of taxpayer funds.