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SATELLITE ALLOY CORP ELEC WORKERS LOCAL 1987

PBGC Trusteed Plan · Case 17990100

The SATELLITE ALLOY CORP ELEC WORKERS LOCAL 1987, a single-employer defined-benefit pension plan sponsored by SATELLITE ALLOY CORPORATION of SPRINGDALE, PA, was terminated on 1985-03-08 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1998-09-04. At the date of termination the plan had 42 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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