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  • November 17, 2008 11:33 AM EST by Brian Sullivan

    The Latest Pension Fund Data

    This press release just crossed.   Given stock market decline this year the drop in pension assets may not be a surprise, but the magnitude of the drop is.   This should only accentuate the funding issues at pension funds both in the private and public sectors.

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    One-hundred largest corporate pensions lose $59 billion in funding

    SEATTLE Nov. 17 /PRNewswire/ --Milliman, Inc., one of the premier global consulting and actuarial firms, today released the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation's largest defined benefit pension plans. In October, pensions faced a record asset value loss -- more than $120 billion -- and after adjustment for liability gains, surrendered a total of $59 billion, dropping pension funding to 92.7%, a 12-percentage-point decline from the funded ratio at the beginning of the year.

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Grant

Fear not curious citizens! Social Security will run out of money as scheduled in 2017 when more people are drawing benifits than workers that are paying into to system. The trust fund is drawing little if any interest because monies that are withheld from workers checks are paid out to those recieving social security faster than the money is coming in. By the way the U.S. Treasury is insured by the Bureau of Engraving and Printing. If they run out of money they just print a few billion more.

November 18, 2008 at 10:01 am

Dennis

Hey Brian You may to try to confirm this,I have been in the car business,many years,word on the street as of 2 hrs ago,GM is not going to pay dealers this quarters rebate abd floor plan credit monies.I have confirmed this with 4 dealer friends here in tx,this is a huge blow to GM dealers,for operating captital.were takling billion!

November 17, 2008 at 4:19 pm

NationalEnquirier

Just thinking about pension fund data makes me think about the formal social security program. If private sector is failing, sheesh, I can pretty much guess social security standings - IOU's in there and all- are going to be killer on interest only loans taken out by the nation state. If AIG ran ads stating 'my parents went with AIG' ? What ad can US citizen's expect ? 'my nation state went with AIG' ? no. but ? What insurance carrier IS the US Treasury with ? Inquiring minds want to know !

November 17, 2008 at 2:33 pm

about this blog

  • Brian Sullivan joined FOX Business Network (FBN) in April 2008 as an anchor. He co-anchors the 10am-12pm ET hours of the FOX Business block. Prior to joining FBN, Sullivan served as an anchor for Bloomberg Television where he hosted the programs Morning Call and In Focus.

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