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PBGC Trusteed Plan · Case 17084800
The TOMLIN PROPERTIES INC. AND AFFILIATES DEFINED BENEFIT PENSION PLAN AND TRUST, a single-employer defined-benefit pension plan sponsored by TOMLIN PROPERTIES, INC. of DALLAS, TX, was terminated on 1991-11-15 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1997-09-11. At the date of termination the plan had 22 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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