US - The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for the Levitz Furniture Employees' Retirement Plan, which has a US$23.5m shortfall.
The fund, sponsored by bankrupt furniture retailer Levitz Home Furnishing, covers over 1600 participants and has been frozen since 1996. It is 70% funded, with $55.5m in assets to cover $79m in ...
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