Pension Benefit Guaranty Corp loses $4 bln, seeks to reassure retirees | WHAT REALLY HAPPENED


Pension Benefit Guaranty Corp loses $4 bln, seeks to reassure retirees

Miller, a California Democrat, said he was "not sold" on the agency's "game plan" adopted in February which calls for boosting long-term returns by sinking nearly half of its investments in equities.

Millard said he was concerned about economic and market turmoil and PBGC would take a "slow and deliberate" approach to the new investment policy.

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