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PBGC Trusteed Plan · Case 1941500
The ELIZABETH CITY COCA COLA BOTTLING WORKS EMP RET, a single-employer defined-benefit pension plan sponsored by ELIZABETH CITY COCA-COLA BOTTLING WORKS of ELIZABETH CITY, NC, was terminated on 1977-11-18 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1978-07-31. At the date of termination the plan had 7 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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