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GENEVA STEEL UNION EMPLOYEE DEFINED

PBGC Trusteed Plan · Case 19660600

The GENEVA STEEL UNION EMPLOYEE DEFINED, a single-employer defined-benefit pension plan sponsored by GENEVA STEEL LLC of City of Vineyard, UT, was terminated on 2002-11-26 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2003-01-13. At the date of termination the plan had 1,309 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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