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SMITH DOUGLAS INC HOURLY PLAN

PBGC Trusteed Plan · Case 5433000

The SMITH DOUGLAS INC HOURLY PLAN, a single-employer defined-benefit pension plan sponsored by SMITH-DOUGLASS, INC of Norfolk, VA, was terminated on 1983-12-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1988-07-22. At the date of termination the plan had 43 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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