Deficit hits record $26B for US pension insurer

Associated Press – The federal agency that insures pensions for one in seven Americans ran the largest deficit last year in its 37-year history. The Pension Benefit Guaranty Corp. said Tuesday that it ran a $26 billion imbalance for the budget year that ended Sept. 30. The agency has been battered by the weak economy, which has brought more bankruptcies and failed pension plans. Read Article