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Pension Benefit Guaranty Corporation - PBGC
What does it mean?
A non-profit, federally-created corporation that, guarantees payment of certain pension benefits under defined benefit plans which are terminated with insufficient money to pay benefits.
In Other Words...
The PBGC tries to soften the impact to individuals who are left without funds after a defined benefit plan has folded because it doesn't have enough money to meet the payment demands.
Related Links
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Related Terms
401k Plan | Defined Benefit Pension Plan | EBSA | Fiduciary | IRA | Pension Plan
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