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PBGC Trusteed Plan · Case 20429800
The FOSS COMPANIES RETIREMENT BENEFIT ACCUMULATION PLAN, a single-employer defined-benefit pension plan sponsored by FOSS MANUFACTURING COMPANY, INC. of HAMPTON, NH, was terminated on 2006-05-05 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2006-12-27. At the date of termination the plan had 718 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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