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PBGC Trusteed Plan · Case 16464000
The HUDSON SUPPLY AND EQUIPMENT REVISED PENSION PLAN, a single-employer defined-benefit pension plan sponsored by HUDSON SUPPLY AND EQUIPMENT CO of BELTSVILLE, MD, was terminated on 1994-11-09 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1996-01-31. At the date of termination the plan had 99 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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