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.

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