Fed Pension Agency Deficit to $23.3 Bln
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The deficit at the federal agency  that rescues failed U.S. pension funds more than doubled to  $23.3 billion in fiscal 2004, officials said on Monday, as the  safety net was hit by losses from pension plans that have  failed or are expected to fail.
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The US Federal Reserve Board, wanting to keep inflation at bay, is expected to boost short-term interest rates Tuesday for a third time this year, a move that would come in the final stretch of the presidential campaign.
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TORONTO (CP) - A significant number of seniors are being shortchanged by the Canada Pension Plan, with the estimated underpayments totalling about &#36;1 billion, says a new report released Monday.
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The surplus in February was $23.76 billion, a statistic that is likely to add to tensions with the United States.
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The U.S. House of Representatives on Wednesday voted to allow workers and retirees to find out from a federal agency just how severe the shortfalls are in their companies' pension plans.
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Straining under the looming pension crisis in the airline industry, the federal pension benefits insurer yesterday reported that its deficit more than doubled from a year earlier.
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Leading economists say US taxpayers may have to pay for a pensions shortfall at the agency that protects pensions funds.
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The current account deficit of the United States hit a record high of 164.7 billion US dollars in the third quarter of this year as a result of increasing demand for imported
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Onge and John Hughes. The Pension Benefit Guaranty Corp., the federal agency that protects retirement plans for more than 44 million workers, said Monday that its deficit more than doubled to $23.
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The US Federal Reserve keeps its main interest rate at 5.25%
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The Federal Reserve on Tuesday slashed U.S. interest rates by a hefty three-quarters of a percentage point, the biggest rate cut in more than 23 years, in an emergency bid to lend support to a U.S. economy some fear is on the verge of recession.
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The U.S. Federal Reserve said on Thursday it will redeem the full amount of maturing Treasury bill holdings of $12.48 billion on January 3, 2008.
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Franklin Raines, Fannie Mae&#39;s former chief executive, who retired last week after regulators exposed accounting errors expected to force a massive earnings restatement, stands to get an annual pension of $1.37 million, the No.
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After reading a book this year about serious flaws in Japan's pension system, retired deliveryman Yoshikazu Hirano thought he'd check his own records just to be safe. He's glad he did: The 74-year-old discovered the government had shortchanged him by 460,000 yen ($3,770) in benefits he accrued while driving a truck for three years in the 1950s and 60s.
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BUENOS AIRES, Argentina  - Argentina on Friday  launched its historic offer to restructure $102.6 billion in  defaulted debt, scoring an early but expected victory as local  pension funds holding 17 percent of the bad debt signed up for  the exchange.
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Description: A flurry of corporate bankruptcies in the past few years leaves a public agency strapped for cash: the Pension Benefit Guaranty Corporation.
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Franklin Raines, Fannie Mae's former  chief executive, who retired last week after regulators exposed  accounting errors expected to force a massive earnings  restatement, stands to get an annual pension of $1.37 million,  the No. 1 U.S. mortgage finance company said on Monday in a  regulatory filing.