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PBGC Trusteed Plan · Case 18421600
The WESTVIEW LUMBER & SUPPLY CO RET PL WITH LIFE INS., a single-employer defined-benefit pension plan sponsored by WESTVIEW LUMBER & SUPPLY CO of DES MOINES, IA, was terminated on 1995-10-15 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1999-12-31. At the date of termination the plan had 6 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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