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LTV asked permission to skip a pension payment.

August 29, 1986

The steelmaker, operating under bankruptcy law protection, asked the Internal Revenue Service if it could defer a $215-million contribution to the pension plans of its steel and energy divisions to conserve cash. The payment is due Sept. 15. The missed payment, representing LTV's annual contribution to 12 of its 25 pension plans, would leave the 12 plans' long-term cash requirements underfunded, but benefit checks to current retirees would not be affected, an LTV spokesman said.

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