US - The Pension Benefit Guaranty Corporation (PBGC) has taken on the pensions of around 1,900 workers and retirees of Oneida Ltd. a US-based distributor of tableware and kitchenware products, following bankruptcy court approval.
The company's Retirement Plan for Employees, which was ended on May 31 this year, is only 31% funded, with US$21.6m in assets to cover $72m of due benefits. Of the $50.4m shortfall, the PBGC is li...
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