Skip to main content

News & Policy

PBGC Will Meet With Participants in Piccadilly Cafeterias Inc. Pension Plan

September 28, 2004

WASHINGTON-Pension Benefit Guaranty Corporation (PBGC) representatives will meet with former workers and retirees covered by the Piccadilly Cafeterias Inc. Pension Plan to explain the federal pension program and answer questions.

PBGC took over the plan on February 24, 2004, and continued uninterrupted payment of benefits to retirees. The plan covers more than 6,800 workers and retirees and is underfunded by $58 million. PBGC uses its assets to make up the shortfall and guarantees to pay benefits as promised by the plan up to the maximum allowed by law.

The meetings will be held as follows:





Embassy Suites Hotel
4914 Constitution Avenue
Baton Rouge, LA 70808
(225) 924-6566


7 - 8 PM

General Session

Holiday Inn Select
New Orleans Airport
1919 William's Boulevard
New Orleans, LA 70062
(504) 647-5611


7 - 8 PM

General Session

At the meetings, PBGC will copy and certify any proof documents (birth, death, and marriage certificates, etc.) for those participants who have not yet retired. Anyone with questions should contact PBGC's Customer Contact Center toll-free 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. If you plan to attend the meeting and require an interpreter, please call the Customer Contact Center at the number above.

PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974. It currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 31,000 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.

— ### —

PBGC No. 04-69