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More than 80 million American workers and their families rely on private pensions. News 12 Long Island discovers how their pension plans may be destroyed because most pension plans are not insured by the government, federal authorities lack the resources to effectively monitor abuses, and by the time abuses are detected, the pension assets are frequently gone. Also, administrator of most private pensions have inherent conflicts-of-interest and few plans are audited or subject to independent scrutiny.
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