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PBGC Trusteed Plan · Case 10178900
The VIKING FOOD SERVICES INC PENSION PLAN, a single-employer defined-benefit pension plan sponsored by VIKING FOOD SERVICE, INC of STAMFORD, CT, was terminated on 1987-10-01 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1989-08-18. At the date of termination the plan had 20 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.
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