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PBGC Trusteed Plan · Case 21652100
The EMPLOYEE BENEFIT PLAN OF VISITING NURSE ASSOCIATION, INC., a single-employer defined-benefit pension plan sponsored by VISITING NURSE ASSOCIATION, INC. of OAK PARK, MI, was terminated on 2010-03-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2011-10-04. At the date of termination the plan had 724 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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