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PBGC Trusteed Plan · Case 19347100
The BENITO A. SINCLAIR & ASSOCIATES INC DBPP, a single-employer defined-benefit pension plan sponsored by BENITO A. SINCLAIR & ASSOCIATES, INC of LOS ANGELES, CA, was terminated on 2001-04-25 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2002-02-04. At the date of termination the plan had 46 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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