Businessweek Archives

Pensions


Washington Outlook: CAPITAL WRAPUP

PENSIONS

A losing record in court is driving the government's pension-insurance fund to seek help from Congress. The Pension Benefit Guaranty Corp. was shaken by a recent Supreme Court ruling denying its bid to move ahead of other creditors of bankrupt LTV Corp. Now the PBGC, which must pay off the beneficiaries of failed pension funds, is pushing a bill to give it priority over unsecured creditors in bankruptcy. The measure, which won't be taken up this year, has split business. Some companies feel it would hurt their own claims in bankruptcy, while others hope it will avert a PBGC premium increase.EDITED BY STEPHEN H. WILDSTROM


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