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Tuna cannery pension deal

This article was originally published in Foodnews

CHICKEN of the Sea International has agreed to pay more than USD3.7 million over three years into the pension plan for employees of the American Samoa tuna cannery it closed in September 2009. The Pension Benefit Guaranty Corporation, a federal corporation that guarantees the payment of basic pensions for US workers, said in a statement that the agreement adds to the security of the pensions of more than 2300 COS Samoa Packing employees and retirees. It added that the agreement satisfies requirements related to the shutdown.

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