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Workers & Retirees

RETIREMENT PLAN OF CIRCUIT CITY STORES, INC.

Overview

Plan SponsorCIRCUIT CITY STORES INC.
Case Number21340500
Date of Plan TerminationMarch 31, 2009
Date of PBGC TrusteeshipMay 26, 2009
Participants21206

Video Transcript

Status

1: PBGC has taken over as trustee of your pension plan. PBGC is now responsible for paying your pension benefits up to the limits set by law.

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2: PBGC is verifying plan and participant information to calculate pension benefits. PBGC has sent letters to notify all participants and beneficiaries that we took over as trustee of your plan.

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3: PBGC is calculating pension benefits, subject to legal limits, owed to all participants and beneficiaries.

PBGC has finished reviewing and verifying plan and participant information. We are now calculating the pension benefits, subject to the legal limits, owed to everyone in the plan.

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4: PBGC has completed calculating pension benefits, subject to legal limits, owed to all participants and beneficiaries in the plan. We are now sending formal determinations of pension benefits to participants and beneficiaries.

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5. All reviews, verifications and calculations have been completed. Formal determination letters describing the amount of pension benefits have been sent to participants and beneficiaries.

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Related Resources

Your Circuit City Pension Benefit: Final Benefit Calculations (as of 3/12/2013)

PBGC continues to calculate the final benefit amount that participants will receive from their Circuit City pension plan. This process takes at least three years. However it can take longer, depending on the complexity of the pension plan's provisions and the valuation of its assets.

So far, we have sent final benefit determinations to 778 participants in the Retirement Plan of Circuit City Stores. We expect to send final benefit determinations to the remaining 20,000 participants by Sept. 30, 2014.

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