PBGC reached an agreement over a pension plan formerly sponsored by...

PBGC reached an agreement over a pension plan formerly sponsored by Frontier Corp., a unit of Global Crossing Ltd. that was sold last year to Citizens Communications Co., Middletown, N.Y. Under the deal, Citizens will assume responsibility for funding the plan, which has assets of $473 million and liabilities of $578 million, and the PBGC will withdraw its request to take over the plan. Global Crossing had earlier attempted to transfer the pension plan’s assets to a liquidating trust.