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GAC/FLXIBLE EMPLOYEES RETIREMENT PLAN

PBGC Trusteed Plan · Case 21043200

The GAC/FLXIBLE EMPLOYEES RETIREMENT PLAN, a single-employer defined-benefit pension plan sponsored by THE PATTON CORPORATION of ANN ARBOR, MI, was terminated on 2006-06-30 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2009-03-17. At the date of termination the plan had 1,553 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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