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GAILYN PACKAGING CORP

PBGC Trusteed Plan · Case 3284600

The GAILYN PACKAGING CORP, a single-employer defined-benefit pension plan sponsored by GAILYN PACKAGING CORP of WOOD RIDGE, NJ, was terminated on 1980-09-29 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1981-06-26. At the date of termination the plan had 6 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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