Originally Posted by
Oldfreightdawg
Can the PBGC give the pensions back? Sure it can!
Under Section 4047 of the Employee Retirement Income Security Act of 1974 (ERISA), the PBGC can order a company to restore its pension obligations when the company's financial health has improved. In fact, it did that with steelmaker LTV back in 1990.
The article failed to mention that after turning LTV's pension back to them, they went into bankruptcy again with the "returned pension" going back to the PBGC a second time.