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FOSTER GRANT CO INC HOURLY RATE EE LOCAL 60

PBGC Trusteed Plan · Case 14134100

The FOSTER GRANT CO INC HOURLY RATE EE LOCAL 60, a single-employer defined-benefit pension plan sponsored by FOSTER GRANT CORP of LEOMINSTER, MA, was terminated on 1991-08-12 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1997-03-10. At the date of termination the plan had 986 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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