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PPS DEFINED BENEFIT PLAN

PBGC Trusteed Plan · Case 22858300

The PPS DEFINED BENEFIT PLAN, a single-employer defined-benefit pension plan sponsored by PERFECTION PETROLEUM SERVICES INC. of Drake, KY, was terminated on 2013-04-30 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2016-06-03. At the date of termination the plan had 7 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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