PBGC sues company over pension obligations to RG Steel - 21 News Now, More Local News for Youngstown, Ohio -

PBGC sues company over pension obligations to RG Steel

Updated:

WARREN, Ohio - The Pension Benefit Guaranty Corporation is suing the Renco Group and it's affiliates for allegedly trying to get out of paying it's pension obligations to RG Steel.

The PBGC claims the holding company reduced its ownership stake in RG Steel before the company went bankrupt in order to not have to pay for the pension debts.

The PBGC seeks $97 million dollars in damages.

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