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Last week, the American Academy of Actuaries released the results of a study on the funding deficit for the single-employer pension program of the Pension Benefit Guaranty Corporation (PBGC). The PBGC, which protects pension plan participants in the event of a plan sponsor’s failure, is funded by the premiums plan sponsors pay. The organization reported a deficit of $29.1 billion for the fiscal year ended September 30, 2012. (The multi-employer program reported an additional deficit of $5.2 billion, which was not considered in the American Academy of Actuaries study.)

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