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UNITED TEXTILE WORKERS OF AMERICA LOCAL 523

PBGC Trusteed Plan · Case 6852300

The UNITED TEXTILE WORKERS OF AMERICA LOCAL 523, a single-employer defined-benefit pension plan sponsored by TRUSTEES OF THE UNITED TEXTILEWORKERS OF AMER LOCAL 523 PEN of ADAMS, MA, was terminated on 1985-04-05 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1986-01-06. At the date of termination the plan had 367 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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