Official says pension funds are down $2 trillion - Mercedes-Benz Forum

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post #1 of 2 (permalink) Old 10-07-2008, 11:16 AM Thread Starter
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Official says pension funds are down $2 trillion

Official says pension funds are down $2 trillion

WASHINGTON (AP) - The top congressional budget analyst says pension plans have lost as much as $2 trillion in the past 15 months.

Peter Orszag told a House panel on Tuesday that the losses are likely to force many workers to hold off on major purchases and delay their retirements.

The panel was investigating how the housing, credit and financial troubles battering the economy have affected retirement savings.

More than half the people surveyed in a recent Associated Press-GfK poll said they worry that they will have to work longer because the value of their retirement savings has declined.

Official says pension funds are down $2 trillion
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post #2 of 2 (permalink) Old 10-07-2008, 12:14 PM
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Please refer back to my Thank You Bush Thread...
I just notice that you posted this before me but I think we need to link this bit of news to the guardian of our freedoms and well being.
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