Record pension underfunding seen for 2008-S&P | Markets | Bonds News | Reuters: "NEW YORK, Dec 23 (Reuters) - The funding status of U.S. pensions has been 'devastated' by sharp declines in the stock market this year and U.S. pensions are expected to register record underfunding levels for 2008, Standard & Poor's said on Tuesday.
Standard & Poor's analyst Howard Silverblatt expects pension funds of companies in the benchmark S&P 500 index .SPX to be underfunded by $257 billion in aggregate this year, beating the previous underfunding record of $219 billion set in 2002."
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