Economy
March 4, 2016
Renco Group to Take Back RG Steel Pension
Written by Sandy Williams
The Renco Group will retake two RG Steel pension funds back from the Pension Benefit Guaranty Corp., ending a three year lawsuit. The deal is only the second time in PBGC’s history that a terminated pension plan was restored to an employer.
The PBGC is an entity that insures multi-employer pension plans and protects the retirement income of workers when a company terminates a plan without sufficient funds to continue to pay all benefits.
