Munsingwear Corp

Government Takes Over Munsingwear Pension Plans: The Pension Benefit Guaranty Corp. took over three underfunded pension plans of Munsingwear Corp. to protect 4,000 workers and retirees. The plans were underfunded by a combined $6 million, but the PBGC said it will recover $2 million through such means as acquiring stock in the newly reorganized company. Munsingwear, an apparel maker based in Minneapolis, filed for federal bankruptcy protection a year ago.

Government Takes Over Munsingwear Pension Plans: The Pension Benefit Guaranty Corp. took over three underfunded pension plans of Munsingwear Corp. to protect 4,000 workers and retirees. The plans were underfunded by a combined $6 million, but the PBGC said it will recover $2 million through such means as acquiring stock in the newly reorganized company. Munsingwear, an apparel maker based in Minneapolis, filed for federal bankruptcy protection a year ago.