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PBGC Statement on the Bankruptcy of Hawker Beechcraft, Inc.
Pension Benefit Guaranty Corporation [PBGC] 
May 3, 2012 "'[PBGC is] committed to working with Hawker Beechcraft and its creditors so that the company can reorganize successfully, while also maintaining the retirement security of its nearly 20,000 workers and retirees.' Collectively, Hawker Beechcraft's three pension plans are 56 percent funded, with $769 million in assets to cover $1.4 billion in benefits. If Hawker Beechcraft ended the plans, PBGC would pay $533 million of the $611 million shortfall." MORE >> |
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