PBGC to provide $85 million to Ohio transportation worker pension plan

The Pension Benefit Guaranty Corporation approved a special financial assistance of $84.9 million to the Teamsters Local Union No. 52 Pension Plan, based in Valley View, Ohio, reports Plansponsor. The pension plan covers. The plan, which 769 participants in the transportation industry, is expected to run out of money some time in 2023, after which the pension would be turned over to the PBGC.