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BANCO OBRERO DE PUERTO RICO

PBGC Trusteed Plan · Case 2667800

The BANCO OBRERO DE PUERTO RICO, a single-employer defined-benefit pension plan sponsored by BANCO OBERO DE AHORROS & PRESTAMOS DE PUERTO RICO of SANTURCE, PR, was terminated on 1979-04-26 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1980-09-22. At the date of termination the plan had 197 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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