WASHINGTON—Pension Benefit Guaranty Corporation Director Josh Gotbaum released the following statement today on the Bankruptcy Filing of AMR Corp.: “Today American Airlines’ parent company filed for bankruptcy. When this happens employees and retirees worry — and they should. In past bankruptcies, workers and retirees have lost their healthcare and seen their pensions cut. Based on…
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PBGC Protects Pension Plan at LandAmerica Financial Group
(May 11, 2009) WASHINGTON—The Pension Benefit Guaranty Corporation (PBGC) today announced it is taking responsibility for the underfunded pension plan covering some 9,600 employees and retirees of LandAmerica Financial Group Inc. of Glen Allen, Va., a bankrupt real estate services firm.