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Business Briefing / Pensions

Agency handling Circuit City plan

May 28, 2009|TIMES WIRE REPORTS

The federal agency that insures corporate pensions says it has taken over defunct electronics retailer Circuit City's pension plan.

The Pension Benefit Guaranty Corp. said it would cover all but $2 million of the plan's $64-million shortfall. The agency says retirees and other beneficiaries will continue receiving monthly checks without interruption.

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