>Lumbermens, a property-casualty insurer and the parent company to Kemper Insurance Corp., is currently under the long-term administrative supervision of the Illinois Department of Insurance. Its pension benefits plan, the Kemper Retirement Plan, is 48% funded with liabilities of $1.055 billion, according to the PBGC. The agency expects to pick up $529 million of the $540 million shortfall in what news reports said was the largest insurer-sponsored pension picked up by the PBGC. The pension plan ended effective Thursday.
>After the PBGC becomes the trustee to the plan, which is expected within a few weeks, the agency will send trusteeship notifications letters to plan participants.
Participants with questions should go to the PBGC website at www.pbgc.gov .
« 2005 Retirement Plan Limits Unveiled