PBGC Urges Teamsters, Hostess To Mind ERISA In Deal

Law360, New York (May 10, 2012, 4:43 PM EDT) -- The Pension Benefit Guaranty Corporation on Wednesday weighed in on the Teamsters union's proposal for an agreement with Hostess Brands Inc. in New York bankruptcy court, saying the proposed deal's pension provisions are permissible as long as they comply with labor laws.

The PBGC said it neither supported nor opposed the Teamsters' proposal, but had been asked at the April 19 hearing over Hostess's request to drop collective bargaining agreements with its unionized workers to clarify whether the Teamsters' proposal for a new deal violates any...
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