US - The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for the pensions of 3,700 workers and retirees of the bicycle and sports equipment company Huffy Corporation, whose retirement plan ended as of 31 August.
The PBGC estimates it will be responsible for US$80m of the $80.7m shortfall. The plan is 47% funded, with $71.7m in assets to cover $152.4m in benefit promises. Huffy filed for bankruptcy prote...
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