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Pension woes loom.

Authors :
Tita, Bob
Source :
Crain's Chicago Business; 10/20/2008, Vol. 31 Issue 42, p1-8, 2p
Publication Year :
2008

Abstract

The article reports that the largest companies in Chicago, Illinois, are diverting billions of dollars to shore up funds depleted by the downfall of stock market. Aon Corp., Exelon Corp. and Abbott Laboratories Inc., started 2008 without enough in pension funds to cover projected payments to retirees. Few other companies are expected to run deficit by the end of 2008. Pension shortfalls are squeezing company profits amid a credit freeze and decline in asset values has been driven up.

Subjects

Subjects :
PENSION trust finance
RETIREES

Details

Language :
English
ISSN :
01496956
Volume :
31
Issue :
42
Database :
Supplemental Index
Journal :
Crain's Chicago Business
Publication Type :
Periodical
Accession number :
35339529