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PBGC Trusteed Plan · Case 20477100
The B & B INDUSTRIAL CATERING SERVICE INC. EMPLOYEES'' PENSION PLAN, a single-employer defined-benefit pension plan sponsored by B& B INDUSTRIAL CATERING SERVICES, INC. of WASHINGTON, DC, was terminated on 2005-04-22 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2006-10-18. At the date of termination the plan had 29 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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