The Pension Benefit Guaranty Corp. is assuming the defined benefit plan of Standard Register Co., a printing and marketing communications firm based in Dayton, Ohio.
On June 19, Standard Register sold most of its assets during bankruptcy proceedings to Taylor Corp., which is not assuming responsibility for the pension fund.
The $289 million defined benefit plan, which ends Monday, is 47% funded, with $611 million in benefit liabilities for which the PBGC will assume responsibility, a PBGC release said.
Standard Register and 10 affiliates sought bankruptcy protection March 12. Carol Merry, a spokeswoman for Standard Register, did not have further details about the pension fund.
