PBGC takes over old Levitz pension plan

October 2006
Furniture/Today;10/16/2006, Vol. 31 Issue 7, p228
Trade Publication
The article reports the Pension Benefit Guaranty Corp. has taken the responsibility for the frozen pension program for employees of Levitz Home Fumishings Inc. The plan covering 1,600 employees was frozen in 1996 after the bankrupt Levitz sold its assets to Prentice Capital Management. According to the new deal, retirees will continue to receive their pensions and other workers will receive it when they are eligible.


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