PBGC Says Eastman Kodak (EK) Pensions 'Reasonably Well Funded'
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Pension Benefit Guaranty Corporation (PBGC) released the following statement today on the bankruptcy filing by Eastman Kodak Corporation (NYSE: EK)(OTCBB: EKDKQ):
"Kodak's U.S. pension plans are reasonably well funded and we want to make sure they stay that way. We will actively participate in Kodak's bankruptcy to protect Kodak's pension plans for their workers and retirees."
Kodak sponsors two traditional pension plans that cover nearly 63,000 people. The plans are 86% funded, with about $4.9 billion in assets to cover about $5.6 billion in benefits.
"Kodak's U.S. pension plans are reasonably well funded and we want to make sure they stay that way. We will actively participate in Kodak's bankruptcy to protect Kodak's pension plans for their workers and retirees."
Kodak sponsors two traditional pension plans that cover nearly 63,000 people. The plans are 86% funded, with about $4.9 billion in assets to cover about $5.6 billion in benefits.
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