- Are Car-Max employees eligible for a benefit from the Retirement Plan of Circuit City Stores, Inc?
- I was not employed by Circuit City, but believe I participated in the Retirement Plan of Circuit City Stores, Inc. Are there any other companies that adopted the plan, which would provide me with a pension benefit?
- Will PBGC pay benefits from the Benefits Restoration Plan?
No. Car-Max employees had their benefits transferred to the Retirement Plan of CarMax, Inc effective February 28, 2002. Therefore, Car-Max employees are not entitled to benefits from the Retirement Plan of Circuit City Stores, Inc.
Yes, there are several subsidiaries that adopted the Retirement Plan of Circuit City Stores, Inc. If you were employed at Patapsco Designs, First North American Bank, Acme Commercial Corp, City Holdings, Circuit City Stores West Coast, or CC Distribution Company of Virginia, you may be eligible for a benefit from the Circuit City plan.
No. The Benefits Restoration Plan is a non-qualified plan that pays benefits in excess of IRS limitations (e.g. compensation in excess of 401(a)(17) limits). PBGC does not insure non-qualified plans or the benefits they provide.