UPDATE 2-U.S. pension agency deficit up sharply

Newswire

(Adds lawmaker comment, edits) By Susan Cornwell WASHINGTON, April 30 (Reuters) - The U.S. agency that bails out troubled corporate pension plans said on Wednesday that its deficit had swelled to around $5.4 billion in the first six months of its fiscal year, from $3.64 billion in 2002. The Pension Benefit Guaranty Corp., which backs the pensions of 44 million Americans, said it had already absorbed most of the troubled plans in the steel industry and now faced exposure to underfunded ...

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