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GLASSBRIDGE ENTERPRISES CASH BALANCE PENSION PLAN

PBGC Trusteed Plan · Case 23500500

The GLASSBRIDGE ENTERPRISES CASH BALANCE PENSION PLAN, a single-employer defined-benefit pension plan sponsored by GLASSBRIDGE ENTERPRISES, INC. of OAKDALE, MN, was terminated on 2019-04-30 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2019-05-13. At the date of termination the plan had 1,109 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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