The United Steelworkers ratified a contract that...
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The United Steelworkers ratified a contract that trades pensions for jobs at LTV Steel Co., but the pact faces a court challenge from the federal agency that picked up LTV’s $2.3-billion pension tab. The Pension Benefit Guaranty Corp., which insures pensions for 40 million Americans, claims that LTV abused its federal pension insurance by creating a new pension plan, or follow-on plan, for union members after saddling the agency with obligations it could not meet under its previous pension plans.
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