US - Bethlehem Steel, America's third-largest steelmaker, has filed for Chapter 11 bankruptcy-court protection citing a $1.85bn gap in its pension fund's finances as a major factor in its demise.
The Pennsylvania-based steel firm said that its finances have been decimated by high pension and health care costs for tens of thousands of employees. A spokesman for the firm said that the Bethleh...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date
