The Pension Benefit Guaranty Corporation has approved the Special Financial Assistance programme exertion submitted by the Teamsters Local 966 Pension Plan, based successful Cresskill, N.J., according to a quality merchandise Thursday.
The plan, which covers 2,356 participants successful the proscription industry, volition person $54.1 million, the PBGC said. The program was projected to tally retired of wealth adjacent year.
The SFA volition let the program to proceed to wage status benefits without simplification for galore years into the future.
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