ANALYSIS-Underfunded US pensions may drain corporate cash

Newswire

By Emily Chasan NEW YORK, Oct 29 (Reuters) - U.S. corporate pension plans, which were largely overfunded last year, are on their way to their greatest underfunded status in years, and could drain corporate cash as companies are forced to support them. Corporate defined-benefit pension plans, which cover about 44 million Americans according to the Pension Benefit Guaranty Corp, have been hit hard by the sharp drop in the stock market and other asset classes this year. Investors should ...

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