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MODERN INDUSTRIES INC COLLECTIVELY BARGAINED PLAN

PBGC Trusteed Plan · Case 21820800

The MODERN INDUSTRIES INC COLLECTIVELY BARGAINED PLAN, a single-employer defined-benefit pension plan sponsored by MODERN INDUSTRIES INC of FLINT, MI, was terminated on 2009-08-01 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2011-06-23. At the date of termination the plan had 18 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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