Butzel Long Seeks Feds' Help With $9M Pension Shortfall

Law360, New York (January 28, 2013, 5:47 PM EST) -- Detroit-based law firm Butzel Long PC has asked the federal Pension Benefit Guaranty Corp. to pick up its pension obligations, saying the cost of maintaining its pension program, which is underfunded by about $9 million, has begun to interfere with the firm's compensation.

Firm president and managing shareholder Justin Klimko told Law360 the firm filed the request Jan. 19, culminating discussions that began in November with PBGC, an independent governmental insurance program for private pension benefit plans, regarding the firm's underfunded pension program.

“It's a major...
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