The Pension Benefit Guaranty Corporation (PBGC) has taken over the responsibility for the pension benefits of Hostess Brands employees, Pensions & Investments reports. PBGC will handle pension benefits of about 1,500 current and former employees of the Texas-based company, formerly known as Interstate Bakeries.

The workers and retirees were previously getting benefits under the American Bakers Association Retirement Plan. PBGC will assume all of Interstate Bakeries $82.5 million in unfunded liabilities.

Click here for the story from Pensions & Investments.

Click here for additional coverage from The Wall Street Journal.



Read More: Pension Benefit Guaranty Corporation · Interstate Bakeries · Hostess Brands · American Bakers Association Retirement Plan