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Short-term PBGC loan that helps an insolvent multiemployer pension plan continue paying guaranteed benefits. When a multiemployer pension plan runs out of money, retirees may fear the worst — that …
What is Financial Assistance (for Multiemployer Plans)? – Simple and Easy Explanation Read More
A Final Benefit is the official amount PBGC will pay you after it formally determines your pension entitlement. (Single-employer PBGC-trusteed plans only.) When a single-employer pension plan fails and the …
What Is a Final Benefit (Single-Employer Plans)? – Simple and Easy Explanation Read More
A fiduciary is a person or organization responsible for managing a pension plan or its assets with honesty, care, and loyalty. Fiduciaries play a critical role in retirement plans like …
What is a Fiduciary? – Simple and Easy Explanation Read More
A facilitated merger allows the PBGC to help a failing pension plan merge with a healthier one so the troubled plan can stay solvent. A facilitated merger is a tool …
What Is a Facilitated Merger? – Simple and Easy Explanation Read More
A 4022(c) benefit is an additional payment PBGC may provide to participants of a terminated single-employer pension plan, based on the agency’s recoveries from the plan sponsor. A 4022(c) benefit …
What is a 4022(c) Benefit? – Simple and Easy Explanation Read More
A quick guide to how PBGC calculates temporary benefit payments before issuing your final pension amount. When a single-employer pension plan is taken over (or “trusteed”) by the Pension Benefit …
What is Estimated Benefit (Single-Employer Plans)? – Simple and Easy Explanation Read More
A federal law that sets standards for employer-sponsored retirement and benefit plans and protects workers’ rights. The Employee Retirement Income Security Act of 1974 (ERISA) is one of the most …
What is the Employee Retirement Income Security Act of 1974 (ERISA)? – Simple and Easy Explanation Read More
Ensures workers’ benefits are protected under federal pension and health plan laws. The Employee Benefits Security Administration (EBSA) plays a crucial role in protecting the retirement and health benefits of …
What is EBSA? – Simple and Easy Explanation Read More
A retirement benefit you can start before normal retirement age without any reduction, typically available through special plan rules or subsidies. An Early Unreduced Retirement Benefit is a valuable feature …
What is an Early Unreduced Retirement Benefit? – Simple and Easy Explanation Read More
A pension benefit you can start before your plan’s normal retirement age, often with a reduced monthly payout. An Early Retirement Benefit is an important option for many workers who …
What Is an Early Retirement Benefit? – Simple and Easy Explanation Read More