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PBGC Trusteed Plan · Case 6139600
The BRONTE CHAMPAGNE & WINE CO. INC. RETIREMENT PLAN, a single-employer defined-benefit pension plan sponsored by BRONTE CHAMPAGNE & WINES CO INC of BIRMINGHAM, MI, was terminated on 1984-10-01 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1986-03-18. At the date of termination the plan had 27 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.
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