May 12, 2009
U.S. trying to take over LandAmerica pensions
LandAmerica Financial Group Inc. said its pension plan has enough money, but a federal agency yesterday took steps to relieve the Henrico County-based company from overseeing the fund. The Pension Benefit Guaranty Corp. said the plan is underfunded by 15 percent, or $36 million, and sent notice to LandAmerica of its intent to take over administration of the retirement fund.
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