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The flood could be just beginning at the Pension Benefit Guaranty Corp. The quasigovernmental agency now has $23 billion in obligations, thanks to its move to assume $6.6 billion in claims from four underfunded United Air Lines Inc. pension plans. As one industry consulting firm puts it, "United simply illustrates the beginning of the waterfall."
May 13, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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