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WAYNE ENGINEERING CORP BARGAINING

PBGC Trusteed Plan · Case 20757300

The WAYNE ENGINEERING CORP BARGAINING, a single-employer defined-benefit pension plan sponsored by WAYNE ENGINEERING CO of CEDAR FALLS, IA, was terminated on 2006-08-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2007-02-23. At the date of termination the plan had 57 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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