A payee is a key term in the world of retirement plans, particularly when it comes to the Pension Benefit Guaranty Corporation (PBGC). Understanding what a payee is can help …

What is a Payee? – Simple and Easy Explanation Read More

Meta Description:Learn what a pension participant is, how they earn and retain benefits, and why understanding this term matters for retirement planning. Understanding retirement planning starts with knowing the key …

What is a Participant? – Simple and Easy Explanation Read More

An ongoing plan is a type of defined benefit pension plan that continues to operate and has not been terminated. In simpler terms, it’s a retirement plan that a company …

What is an Ongoing Plan? – Simple and Easy Explanation Read More

An offset plan is a type of retirement plan designed to adjust or reduce a participant’s pension benefit based on other sources of income. In simple terms, it’s a pension …

What is an Offset Plan? – Simple and Easy Explanation Read More

Meta description:Learn what an Offset is in pensions, including Social Security offsets, floor offsets, and how offset plans affect retirement benefits. Understanding your pension plan can sometimes feel like decoding …

What is Offset? – Simple and Easy Explanation Read More

A multiemployer pension plan is designed to provide retirement benefits to workers from more than one company, usually in industries like construction or trucking. But what happens if the plan …

What is Notice of Insolvency Benefit Level? – Simple and Easy Explanation Read More

A multiemployer pension plan is a retirement plan sponsored by a group of employers, often within the same industry, and a labor union. Occasionally, these plans face financial difficulties, and …

What is Notice of Insolvency (for Multiemployer Plans)? – Simple and Easy Explanation Read More

A crucial step in the pension world, especially for single-employer plans, is the Notice of Intent to Terminate (NOIT). This notice is required under the Employee Retirement Income Security Act …

What is Notice of Intent to Terminate (NOIT)? – Simple and Easy Explanation Read More

PBGC issues a Notice of Determination (NOD) to inform a plan administrator when a single-employer pension plan may need to be terminated. This notice is an important part of ensuring …

What is Notice of Determination (NOD)? – Simple and Easy Explanation Read More

Meta Description:Learn what a Normal Retirement Date is, when you can start pension benefits, and how it impacts your retirement planning. Understanding your pension plan can feel complicated, but one …

What is Normal Retirement Date? – Simple and Easy Explanation Read More