Pension Benefit Guaranty Corporation’s single-employer program is improving, but the funding crisis for multiemployer pension plans is not, according to the agency’s 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.

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