The Pension Benefit Guaranty Corp. reports that single-employer plans have dropped from 95,000 in 1980 to less than 30,000 today. The PBGC now has deficits of $22.8 billion, mainly a result of having to assume the benefit responsibilities of bankrupt airline and steel companies.

Copyright© 2006 Magdefrau, Renner & Ciaffaglione LLC