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Statement on SFA Application submitted by Bakery Drivers Local 550 Pension Fund


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.

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