Most U.S. company pension plans underfunded-survey

Newswire

By Martha Graybow NEW YORK, March 26 (Reuters) - Nearly two-thirds of U.S. corporate pension plans are underfunded, according to a survey released on Wednesday, in a sign of the pension squeeze facing corporate America. The percentage of employers with fully funded pension plans fell to 37 percent in 2002 from 84 percent in 1998, according to a survey by Washington-based consulting firm Watson Wyatt, a unit of Watson Wyatt & Co. The 2002 data is based on a survey of 419 companies. ...

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