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PBGC Trusteed Plan · Case 19567300
The THOMASTON MILLS, INC. RETIREMENT PLAN NO. 1, a single-employer defined-benefit pension plan sponsored by THOMASTON MILLS INC. of The Rock, GA, was terminated on 2001-08-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2002-02-13. At the date of termination the plan had 685 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.
| Plan | Terminated | Participants |
|---|---|---|
| THOMASTON MILLS, INC. RETIREMENT PLAN NO. 2 | 2001-08-31 | 1,410 |
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