follow us

Sep 05, 2005 Issue #47

Cover Story

Ailing WPS Pension Fund Taken Over

Washington — The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for the pensions of 32,500 workers and retirees of bankrupt WestPoint Stevens. The pension plans of WPS hourly and salaried workers ended on Aug. 8, and the PBGC became trustee of the plan on Aug. 18.