CNBC has an interesting news tid bit on the Pension situation.
Pension Watchdog: Pension Deficit Drops $3 BillionReuters| 17 Nov 2008 | 10:52 AM ET
The U.S. agency that ensures corporate pensions reported Monday a nearly $3 billion drop in its annual deficit and said it has stepped up monitoring of struggling U.S. companies, including automakers.
Charles Millard, director of the Pension Benefit Guaranty Corp, said in an interview that officials are taking a more aggressive approach toward accumulating information about plans sooner than companies normally would be required to report it.
Millard said agency officials have focused on a number of struggling companies, and pension insurers have been in daily contact with senior leaders at General Motors , Chrysler and Ford Motor .
They want to ensure that pension information is updated and accurate.
Millard, who credited more aggressive monitoring with helping to reduce its deficit, told Congress in October that GM's plans were in reasonably good health.
He would not discuss plans at Ford or privately held Chrysler.
All three are seeking a $25 billion government bailout the companies say is needed for survival.Copyright 2008 Reuters. Click for restrictions.