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Byline: David Robinson
Nov. 1--The federal agency that props up sagging pension plans is moving to take control of the underfunded retirement plans at defunct Dunkirk steel maker Empire Specialty Steel Corp.
The Pension Benefit Guaranty Corp. has filed papers in U.S. District Court asking the court to appoint it as the trustee for the Empire Specialty Steel pension plan in a move that the agency said would protect the benefits of the company's workers.
"Currently, no one is administering the hourly (pension) plan and the salaried plan, and empire is not able to make any additional contributions," the agency said in court papers filed last month. …