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LOCAL 50 CANDY & CONFECTIONERY UNION IND PENSION

PBGC Trusteed Plan · Case 10004300

The LOCAL 50 CANDY & CONFECTIONERY UNION IND PENSION, a single-employer defined-benefit pension plan sponsored by LOCAL 50 CANDY & CONFECTIONERYUNION AND INDUSTRY of LONG ISLAND CITY, NY, was terminated on 1980-09-12 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1981-03-04. At the date of termination the plan had 527 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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