Allis-Chalmers is seeking to end its pension plan.

The farm equipment manufacturer said it filed documents with the federal Pension Benefit Guaranty Corp. to halt the plan at its suburban West Allis factory in Minneapolis and for former workers at other plants that it has closed. The PBGC, established in 1974, guarantees payment of benefits under private pension plans if it determines that a plan’s financing is no longer adequate. The company said it “regrets the necessity for this decision, but severe business conditions and the company’s financial situation compel the termination.”