U.S. assumes pensions of defunct Circuit City
WASHINGTON |
WASHINGTON May 27 (Reuters) - A U.S. government agency has assumed responsibility for pension plans covering 21,000 former workers and retirees at defunct electronics retailer Circuit City Stores Inc CCTYQ.PK, officials said on Wednesday.
The Pension Benefit Guaranty Corp (PBGC) will cover roughly $62 million in retirement obligations, the agency said. (Reporting by John Crawley; Editing by Tim Dobbyn)
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