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A Guaranteed Benefit is the portion of a participant’s pension that the Pension Benefit Guaranty Corporation (PBGC) promises to pay if their employer’s pension plan fails. Short meta description:A clear …
What Is a Guaranteed Benefit? – Simple and Easy Explanation Read More
Retirement plan sponsored by a federal, state, or local government for its employees. A governmental plan is a special type of retirement plan created for public-sector workers. These plans follow …
What is a Governmental Plan? – Simple and Easy Explanation Read More
A clear and simple guide to understanding “Funding” in retirement and pension plans. When you see the term Funding in a pension or retirement plan — especially in defined benefit …
What is Funding? – Simple and Easy Explanation Read More
A fully funded plan has enough assets to pay every benefit earned under a defined benefit pension plan, even if some of those benefits are not guaranteed by the PBGC. …
What is a Fully Funded Plan? – Simple and Easy Explanation Read More
A frozen plan is a pension plan in which the employer stops some or all future benefit accruals. Learn what a frozen plan means, why companies use it, and how …
What is a Frozen Plan? – Simple and Easy Explanation Read More
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