NEWSWATCH

GRAND UNION CO., Wayne, N.J., had its underfunded pension plan taken over last week by the Pension Benefit Guaranty Corp., Washington, a federal agency. "Nearly all workers can expect to receive full benefits," the PBGC said. Grand Union's plan had only $183 million to cover total benefit liabilities of an estimated $205 million, according to the PBGC. The 17,000 plan participants include about 8,400

GRAND UNION CO., Wayne, N.J., had its underfunded pension plan taken over last week by the Pension Benefit Guaranty Corp., Washington, a federal agency. "Nearly all workers can expect to receive full benefits," the PBGC said. Grand Union's plan had only $183 million to cover total benefit liabilities of an estimated $205 million, according to the PBGC. The 17,000 plan participants include about 8,400 who worked for the now-defunct Colonial Stores chain that Grand Union purchased in 1980, and

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