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Board of Trustees of the Bakery Drivers Local 550 and Industry Pension Fund v. Pension Benefit Guaranty Corporation
Case Number:
2:23-cv-01595
Court:
Nature of Suit:
Judge:
Firms
Government Agencies
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August 28, 2025
PBGC Must Reconsider Bakery Union's $132M Bailout Bid
The Pension Benefit Guaranty Corp. must formally reexamine whether union bakery drivers can collect $132 million from a federal pension rescue program, a New York federal judge said Thursday after lifting a stay on the order following the Second Circuit's decision to reject the agency's rehearing bid.
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October 27, 2023
Bakery Pension Fund Loses Bid For $132M PBGC Rescue
A New York federal judge sided with the Pension Benefit Guaranty Corp. in a lawsuit from trustees of a pension fund for union bakery drivers seeking $130 million in financial assistance from a massive pension rescue program Congress passed in 2021, finding the PBGC's denial wasn't erroneous.