Corporate America's Clean Little Secret

Lush pension funds are swelling company coffers, but mum's the word

While much of the media focuses on how individuals are benefiting from stocks, a huge beneficiary of the bull market is going unnoticed--and trying hard to keep it that way. This investor--the old-fashioned company pension plan--reaped some $200 billion in capital gains in 1995. After years of investing billions in equities, corporate pension plans have more assets than they know what to do with. And the implications of that for Corporate America are enormous.

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