CIT Group Inc., according to court bankruptcy documents, intends to keep its retirement pension plan that covers 6,500 workers.

The major lender to small businesses, however, isn't required to make a contribution to the plan until April 2010. Therefore, CIT "will not be making a contribution during the expected pendency" of its Chapter 11 bankruptcy.

According to court documents, the approximate amount funded annually by CIT for the retirement plan is $28.8 million.

CIT filed for bankruptcy-court protection Sunday. The financial firm intends to complete a prepackaged reorganization by the end of the year.

The firm's decision to keep its pension plan should come as good news to the U.S. Pension Benefit Guaranty Corp.

The PBGC, a federal corporation that guarantees payment of roughly 29,000 private company benefits, is faced with a $33.5 billion deficit that financial consultants estimated could surpass $50 billion.

The pension insurer's financial solvency remains a high concern for some administration officials and lawmakers as more companies attempt to restructure, or close, in reaction to the economic meltdown.

However, the Obama administration has yet to appoint a director to the agency.

-By Darrell A. Hughes, Dow Jones Newswires; 202-862-6684; darrell.hughes@dowjones.com

(Marie Beaudette contributed to this report.)