THE FAIRCHILD CORPORATION MASTER RETIREMENT PLAN
|Plan Sponsor||FAIRCHILD HOLDING CORPORATION|
|Date of Plan Termination||December 17, 2009|
|Date of PBGC Trusteeship||December 29, 2009|
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.
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.
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.
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.
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.
Your Fairchild Pension Benefit: Final Benefit Calculations (as of 3/12/2013)
PBGC continues to calculate the final benefit amount that participants will receive from their Fairchild 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 23 participants in the Fairchild Corporation Master Retirement Plan. We expect to send final benefit determinations to the remaining 5,100 participants by Sept. 30, 2014.
- PBGC Protects Fairchild Corp. Pensions (December 17, 2009)