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KING INDUSTRIES INC PENSION PLAN

PBGC Trusteed Plan · Case 16729800

The KING INDUSTRIES INC PENSION PLAN, a single-employer defined-benefit pension plan sponsored by KING INDUSTRIES of Norfolk, VA, was terminated on 1995-01-30 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1997-02-19. At the date of termination the plan had 31 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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