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SHARON STEEL PENSION PLAN UNION STEEL

PBGC Trusteed Plan · Case 16181500

The SHARON STEEL PENSION PLAN UNION STEEL, a single-employer defined-benefit pension plan sponsored by UNION STEEL CORPORATION PENSION DEPT of FARRELL, PA, was terminated on 1993-10-17 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1993-10-22. At the date of termination the plan had 34 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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