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PBGC Trusteed Plan · Case 20173100
The VICTOR FLUID POWER INC. PENSION PLAN, a single-employer defined-benefit pension plan sponsored by VICTOR FLUID POWER, INC. of WESTPORT, CT, was terminated on 1996-02-01 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2010-11-23. At the date of termination the plan had 100 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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