Chicago (Jan. 23, 2003) -- Many companies face huge expense increases this year to make up for investment losses in their pension plans, which could undercut corporate earnings growth and potentially dampen an economic recovery, according to a survey by Deloitte & Touche.

Among the 80 companies surveyed, 40 percent said pension expenses will rise by more than 50 percent in 2003. Another 20 percent expect increases of 26 percent to 50 percent, while 16 percent of respondents see expenses growing between 11 percent and 25 percent, D&T said. The firm polled senior financial and human resources executives from companies with median revenue of $1 billion and an estimated average of 5,000 employees.

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