PBGC To Take Over Butzel Long Pension Plan

Law360, New York (July 3, 2013, 5:22 PM EDT) -- Detroit-based law firm Butzel Long PC announced Wednesday that the federal Pension Benefit Guaranty Corp. has agreed to pick up its pension obligations, granting a request the firm said it made because the pension program's costs were interfering with compensation.

The PBGC, an independent governmental insurance program for private pension benefit plans, granted the request the law firm made in January 2013 for the agency to assume the assets and management, including payment of benefits, of the Butzel Long Employees' Pension Plan, the firm said. When the...
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