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Pension Benefit Guaranty Corporations single-employer program is improving, but the funding crisis for multiemployer pension plans is not, according to the agencys fiscal 2013 projection report.
Recent figures indicate the fiscal 2013 deficit of $27.4 billion is projected to narrow to $7.6 billion by fiscal 2023. Last year, PBGC estimated a deficit of $32.5 billion for fiscal 2022.
Nick Otto is a former senior editor of Employee Benefit News and Employee Benefit Adviser.
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