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UNITED DISTRIB SYS SOUTHERN AUTO SUPPLY PLAN

PBGC Trusteed Plan · Case 2708400

The UNITED DISTRIB SYS SOUTHERN AUTO SUPPLY PLAN, a single-employer defined-benefit pension plan sponsored by SOUTHERN AUTOMOTIVE SUPPLY INC of NITRO, WV, was terminated on 1979-01-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1981-02-19. At the date of termination the plan had 11 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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