PBGC to Take Over Law Firm’s Pension Plans

The Pension Benefit Guaranty Corporation announced May 10 that it is taking responsibility for three pension plans sponsored by the New York-based law firm Dewey & LeBoeuf LLP.

PBGC said it is “stepping in to secure its ability to collect against the firm’s affiliates that share funding responsibility for the pension plans.”

The three plans, which cover almost 1,800 people, have a combined shortfall of $80 million. Dewey & LeBoeuf’s plans should end on May 11, the agency said.

Dewey & LeBoeuf is a large global law firm that was created when Dewey Ballantine merged with LeBoeuf, Lamb, Greene, and ...