Fund Will Pay Reliance Pensions
NU Online News Service, Feb. 28, 1:43 p.m. EST?A federal guaranty fund will pay the pensions of more than 8,700 employees of the insolvent Reliance Insurance Company, it was announced today.
The Pension Benefit Guaranty Corporation said it has assumed responsibility for the underfunded pension plan of the Philadelphia-based property-casualty insurer being liquidated by the Pennsylvania Department of Insurance.
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