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G L INDUSTRIES OF MICHIGAN INC PENSION PLAN

PBGC Trusteed Plan · Case 12317201

The G L INDUSTRIES OF MICHIGAN INC PENSION PLAN, a single-employer defined-benefit pension plan sponsored by GL INDUSTRIES OF MICHIGAN INC of SOUTHFIELD, MI, was terminated on 1990-01-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1991-09-04. At the date of termination the plan had 156 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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