PBGC negotiates deal with Western Union

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US - The Pension Benefit Guaranty Corporation (PBGC) reached an agreement with Western Union Financial Services aimed at strengthening the funding of the company's retirement plan.

Under the deal, Western Union will make a $4.1m cash payment for the 2008 plan year that will be in addition to any required payments to the pension plan. The agreement follows the shutdown of a...

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