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Tilted Cat Head
Administrator
Location: Manhattan, NY
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Pension plans suffer huge losses - Jul. 7, 2008
Not quite sure what the total is, because if what your math reads, then we're close to quadrillion in the assets? (sorry very very bad at math)
Quote:
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On paper, the losses from last October tally $160 billion. However, according to Mercer actuary Adrian Hartshorn, the asset losses are closer to $280 billion when pension plan assets and liabilities are considered together. The assets, which totaled roughly $1.7 trillion at the end of October 2007, fell by 17%, leaving about $1.4 trillion in assets at the end of June.
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