GRAND UNION CO., Wayne, N.J., had its underfunded pension plan taken over last week by the Pension Benefit Guaranty Corp., Washington, a federal agency. "Nearly all workers can expect to receive full benefits," the PBGC said. Grand Union's plan had only $183 million to cover total benefit liabilities of an estimated $205 million, according to the PBGC. The 17,000 plan participants include about 8,400 who worked for the now-defunct Colonial Stores chain that Grand Union purchased in 1980, and ...
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