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GENERAL SHIP CORP. SALARIED EMPLOYEES' RET. PLAN

PBGC Trusteed Plan · Case 19485600

The GENERAL SHIP CORP. SALARIED EMPLOYEES' RET. PLAN, a single-employer defined-benefit pension plan sponsored by GENERAL SHIP CORP. of BOSTON, MA, was terminated on 1995-06-30 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2003-01-27. At the date of termination the plan had 57 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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