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A. CLEMENTE INC DBPP

PBGC Trusteed Plan · Case 18800700

The A. CLEMENTE INC DBPP, a single-employer defined-benefit pension plan sponsored by A. CLEMENTE INC of Penns Grove, NJ, was terminated on 1998-10-06 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2000-07-12. At the date of termination the plan had 33 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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