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BUDGET &| |CREDIT COUNSELING SERVICES. INC. PENSION PLAN

PBGC Trusteed Plan · Case 20538900

The BUDGET &| |CREDIT COUNSELING SERVICES. INC. PENSION PLAN, a single-employer defined-benefit pension plan sponsored by BUDGET & CREDIT COUNSELING SERVICES INC of NEW YORK, NY, was terminated on 2005-08-05 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2006-06-20. At the date of termination the plan had 55 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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