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PBGC Trusteed Plan · Case 861200
The SOUTH PARK TOOL & MOLD CO INC EMPLOYEES PENS PL, a single-employer defined-benefit pension plan sponsored by SOUTH PARK TOOL MOLD CO INC of DAYTON, OH, was terminated on 1976-05-31 and taken into trusteeship by the Pension Benefit Guaranty Corporation on 1979-03-12. At the date of termination the plan had 28 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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