Appointment of Trustees for Terminated Plan

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A plan to protect beneficiaries in the event of the bankruptcy of a pension. The Pension Benefit Guaranty Corporation (PBGC) enacts this plan by appointing one or more trustees, who have the obligation to keep assets from being further reduced, to prevent new liabilities, and to generally advocate on behalf of pensioners as opposed to creditors or other interested parties. The U.S. District Court must approve the trustees the PBGC appoints.

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