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PENN SPECIALTY CHEMICALS INC. RETIREMENT PLAN

PBGC Trusteed Plan · Case 21396300

The PENN SPECIALTY CHEMICALS INC. RETIREMENT PLAN, a single-employer defined-benefit pension plan sponsored by PENN SPECIALTY CHEMICALS INC. of PLYMOUTH MEETING, PA, was terminated on 2008-12-17 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2009-09-23. At the date of termination the plan had 137 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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