An estimated 77 million baby boomers are beginning to retire, and while they’re expected to live longer than their parents, many have less money put away for retirement. They’re also likely to face higher costs for housing and medical care during their retirement.
On top of that, when some steel companies and other businesses went bankrupt and transferred their pension liabilities to the Pension Benefit Guaranty Corp., the taxpayer-funded agency was saddled with costly obligations. As of Sept. 30, 2005, the agency’s annual Performance and Accountability Report showed a deficit of $22.8 billion.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Not a Bloomberg Law Subscriber?
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]