PBGC Will Meet with Participants in Grand Union Pension Plan
FOR IMMEDIATE RELEASE
May 23, 2001
Pension Benefit Guaranty Corporation (PBGC) representatives will meet with workers and retirees covered by The Grand Union Company Associates' Retirement Plan during May and June 2001 in Atlanta, Ga., Rutland, Vt., and Schenectady, N.Y., to explain the federal pension insurance program and answer questions.
PBGC took over The Grand Union Company Associates' Retirement Plan on January 2, 2001. The plan covers almost 17,000 people and is underfunded by about $22 million. PBGC uses its assets to make up the shortfall. Benefits for those already retired will continue without interruption.
Meetings for participants in the plan are scheduled as follows:
May 30, 2001 - 7 p.m.
May 31, 2001 - 11 a.m. and 7 p.m.
The Westin Atlanta North at Perimeter
7 Concourse Parkway
Atlanta, GA 30328
June 5, 2001 - 11 a.m. and 7 p.m.
Holiday Inn - Rutland/Killington
476 US Route 7 South
Rutland, VT 05701
June 7, 2001 - 9:30 a.m., 3 p.m., and 7 p.m.
Holiday Inn Schenectady-Downtown
100 Nott Terrace
Schenectady, NY 12308
PBGC will copy and certify any proof documents (birth and death certificates, marriage licenses, etc.) that workers or retirees bring to the meetings. Anyone with questions should contact PBGC's Customer Service Center at 1-800-400-7242. For hearing-impaired TTY/TDD users, call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to 800-400-7242.
PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974 to guarantee payment of basic pension benefits earned by more than 43 million American workers and retirees participating in nearly 38,000 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns.
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PBGC No. 01-29