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PBGC Trusteed Plan · Case 21574400
The ADOLPH GOTTSCHO INC PENSION PLAN FOR EES WHO ARE MEMBERS OF UNITED STEELWORKERS OF AMERICA, a single-employer defined-benefit pension plan sponsored by ADOLPH GOTTSCHO INC of UNION, NJ, was terminated on 2009-10-26 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2010-09-29. At the date of termination the plan had 19 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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