The Pension Benefit Guaranty Corporation (PBGC) has notified Bendix Commercial Vehicle Systems LLC of its responsibility to pay $16.9 million in pension liability. The obligation arises from the shutdown of Bendix's Frankfort, KY plant and the resulting job loss of some 60 workers who were participants in the underfunded Bendix Commercial Vehicle Systems LLC Pension Plan for Hourly Employees.
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02/05/2010 10:52 AM | From Aging News Alert
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