The Pension Benefit Guaranty Corporation (PBGC) will take responsibility of the pension plan of The Relizon Company, Pensions & Investments reports. The Ohio-based producer of marketing materials and its Virginia-based parent, Workflow Management, are liquidating in Chapter 11 bankruptcy. The PBGC expects to assume responsibility for around $54.7 million of the $55.4 million shortfall. Relizon’s defined benefit pension plan, which is 47% funded, has around $49 million in assets to cover $104.4 million in liabilities.
Click here for the story from Pensions & Investments.
