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BARBERS UNION LOCAL 123 PENSION PLAN

PBGC Trusteed Plan · Case 10001200

The BARBERS UNION LOCAL 123 PENSION PLAN, a single-employer defined-benefit pension plan sponsored by BOARD OF TRUSTEES OF THE BARBERS AND HAIRSTYLISTS UNIONLOCAL of NEW YORK, NY, was terminated on 1978-11-30 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1981-05-26. At the date of termination the plan had 252 participants — current and former employees with vested retirement benefits.

When PBGC trustees a plan, it assumes responsibility for paying guaranteed retirement benefits to participants up to statutory maximums. Plans are typically trusteed after the sponsor enters bankruptcy or otherwise becomes unable to meet pension obligations.

References

1. Pension Benefit Guaranty Corporation. Single-Employer Plans Trusteed by PBGC. trusteedplans.xlsx. Retrieved recently.
2. Pension Benefit Guaranty Corporation. Open Government — Data Sets. pbgc.gov/about/open-government/data-sets.

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