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A Free Surviving Spouse Benefit (FSSB) is a no-cost survivor benefit that protects a spouse by providing 50% of the participant’s pension if the participant dies before retirement. A Free …
What is a Free Surviving Spouse Benefit (FSSB)? – Simple and Easy Explanation Read More
A required annual filing that reports a retirement plan’s financial condition, operations, and compliance status. What Is Form 5500? Form 5500 is an annual return/report that most employer-sponsored retirement and …
What is Form 5500? – Simple and Easy Explanation Read More
Unlocking your right to access federal government records. The Freedom of Information Act (FOIA) is a federal law that gives anyone the right to request access to records held by …
What is the Freedom of Information Act (FOIA)? – Simple and Easy Explanation Read More
A floor offset design combines a defined contribution plan and a defined benefit plan to ensure employees receive a guaranteed minimum retirement benefit. A Floor Offset is a retirement plan …
What is a Floor Offset? – Simple and Easy Explanation Read More
A flat-rate premium is the fixed annual fee that every PBGC-insured pension plan must pay per participant. Single-employer plans pay higher rates than multiemployer plans. The flat-rate premium is one …
What is the Flat-Rate Premium? – Simple and Easy Explanation Read More
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