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PBGC to assume Weirton pension plan.

Publication: Metal Center News
Publication Date: 01-DEC-03
Format: Online - approximately 368 words
Delivery: Immediate Online Access
Full Article Title: PBGC to assume Weirton pension plan.(Metal Industry News)

Article Excerpt
The Pension Benefit Guaranty Corporation announced it will assume responsibility for the pensions of workers and retirees of bankrupt Weirton Steel Corp., Weirton, W.Va.

The Weirton Steel Corp. Retirement Plan is just 39 percent funded, with $530 million in assets to cover almost $1.35 billion in benefit liabilities. Of the $825 million in total...

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