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PROGRESSIVE COMMUNICATIONS CORPORATION EMPLOYEES' RETIREMENT PLAN

PBGC Trusteed Plan · Case 23978900

The PROGRESSIVE COMMUNICATIONS CORPORATION EMPLOYEES' RETIREMENT PLAN, a single-employer defined-benefit pension plan sponsored by PROGRESSIVE COMMUNICATIONS CORPORATION of MT. VERNON, OH, was terminated on 2020-08-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 2021-08-16. At the date of termination the plan had 92 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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