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BAY AREA SHIPPERS COOPERATIVE ASSN INC DEF BENEFIT PEN PLAN

PBGC Trusteed Plan · Case 15140700

The BAY AREA SHIPPERS COOPERATIVE ASSN INC DEF BENEFIT PEN PLAN, a single-employer defined-benefit pension plan sponsored by BAY AREA SHIPPERS COOPERATIVE ASSN INC of CONCORD, CA, was terminated on 1991-06-25 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1997-08-20. At the date of termination the plan had 5 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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