PA | 23-0962915 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
The Company expects to satisfy all of its obligations under the Plan, which has been frozen since December 31, 1996, by the end of fiscal 2012. In order to terminate the Plan, in accordance with Internal Revenue Service and Pension Benefit Guaranty Corporation requirements, the Company is required to fully fund the Plan on a termination basis and will commit to contribute the additional assets necessary to do so. The amount necessary to do so is not yet known, but is currently estimated to be between $13 and $18 million. Plan participants will not be adversely affected by the Plan termination, but rather will have their benefits either converted into a lump sum cash payment or an annuity contract placed with an insurance carrier.
10.1 Termination Amendment, dated November 16, 2011, to The Pep Boys - Manny, Moe & Jack Pension Plan
THE PEP BOYS - MANNY MOE & JACK | ||||||||
Date: November 17, 2011 | By: | /s/ Brian D. Zuckerman | ||||||
Brian D. Zuckerman | ||||||||
SVP - General Counsel & Secretary | ||||||||
Exhibit No. | Description | |
EX-10.1 | Termination Amendment to The Pep Boys - Manny, Moe & Jack Pension Plan |