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October 04, 1994|From Times Staff and Wire Reports

Pact Reached on Pan Am Pensions: The $115-million settlement between the government and now-defunct Pan Am Corp. will help the government meet $900 million in pension liabilities covering 37,000 former employees and retirees. Even so, Pension Benefit Guaranty Corp. said, it remains responsible for about $700 million in unfunded benefits in three plans. The federal insurance agency guarantees retirement benefits for about 41 million American workers and retirees. In return for the settlement, the agency will relinquish all other claims against the Pan Am estate.

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