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Top Ten Pension Plan Defaults
The firms presenting the ten largest claims have accounted
for more than half of all claims against the nation's pension
insurance system over its 25-year life, according to the
Pension Benefit Guaranty Corporation (PBGC).
|
Firm |
Fiscal Yrs of Plan
Termination |
Claims (millions) |
Vested Participants |
Avg Claim Per Vested
Participant |
|
Pan American |
1991, 1992 |
$841 |
34,472 |
$22,446 |
|
Eastern Air Lines |
1991 |
$553 |
51,182 |
$10,799 |
|
Wheeling Pitt Steel |
1986 |
$496 |
22,144 |
$22,364 |
|
Sharon Steel |
1994 |
$291 |
6,886 |
$42,229 |
|
LTV Republic Steel |
1986 |
$222 |
8,208 |
$27,037 |
|
Kaiser Steel |
1987,88 |
$221 |
8,403 |
$26,373 |
|
CF& I Steel |
1992 |
$188 |
4,239 |
$44,269 |
|
Allis-Chamlers |
1985,86 |
$186 |
9,055 |
$20,512 |
|
Uniroyal Plastics |
1992 |
$150 |
5,212 |
$28,766 |
|
Blaw-Knox |
1992,94 |
$121 |
5,659 |
$21,436 |
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Top 10 Total |
|
$3,268 |
158,460 |
$20,623 |
|
All Others |
|
$3,180 |
522,530 |
$ 6,087 |
|
TOTAL |
|
$6,449 |
680,990 |
$9,470 |
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