On September 28, 2022, the Pension Benefit Guaranty Corporation received an application for Special Financial Assistance (SFA) for the Bakery Drivers Local 550 and Industry Pension Fund (the “Plan”) requesting $132,250,472 in SFA.
PBGC determined that the Plan is not eligible for SFA because it does not meet the eligibility criteria under ERISA § 4262(b). Accordingly, PBGC has denied the application. Please see the denial letter for more information.