US - The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for bankrupt Pittsburgh Brewing Co's pension plan, and will have to front US$11m of the company's $12m shortfall.
The PBGC estimated the $24m plan, which covered 532 workers and retirees, was only 50% funded. The courts ruled last week the company satisfied the legal test for terminating the plan, and the P...
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