Mr. Bradley D. Belt, Executive Director of the Pension Benefit Guaranty Corporation, testifies to the Senate Committee on Finance that much has happened to bolster the case to enact the Bush administration’s reform proposal as promptly as possible.
Belt states that the amount of under-funding of pensions grew from 279 billion dollars to 354 billion dollars. He also says that weaker companies including many in the automobile industry are dramatically under-funding their employee pension plans. (1:23)
June 8, 2005
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