In issuing its annual report on Friday, the Pension Benefit Guarantee Corporation mixed the good news with the bad. The federal organization and its director, Josh Gotbaum, have made plenty of strides to protect DB plans at troubled companies across the U.S., particularly the embattled American Airlines.
Unfortunately, that's also resulted in a record $34 billion deficit, the biggest in the agency's 38-year history.
"PBGC continues its work to preserve pensions and to provide some of the best service out there, but continuing financial deficits will ultimately threaten its ability to pay benefits," Gotbaum noted, in a statement.
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