Retirement systems hit by economic slump
Source
http://www.pionline.com/apps/pbcs.dll/article?AID=/20090323/PRINTSUB/303239975/1031/TOC
Date
Media Outlet
Pensions & Investments
The Academy's Senior Pension Fellow Frank Todisco discussed the recently released Federal Reserve Flow of Funds report. He said that all three retirement systems—both corporate and public defined benefit pension plans as well as private define contribution plans—took hits in 2008 as a result of the economic downturn and are in deficit relative to the amount of promised benefits or beneficiaries' retirement needs.
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