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STEVEN KESSLER MOTOR CARS, INC. PEN TRUST

PBGC Trusteed Plan · Case 18843800

The STEVEN KESSLER MOTOR CARS, INC. PEN TRUST, a single-employer defined-benefit pension plan sponsored by STEVEN KESSLER MOTOR CARS INC. of NEW YORK, NY, was terminated on 1997-01-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2001-11-28. At the date of termination the plan had 29 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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