Pension Benefit Guaranty Corporation (PBGC)

Pension Benefit Guaranty Corporation (PBGC),

How To Define Pension Benefit Guaranty Corporation (PBGC)?

Pension Benefit Guaranty Corporation (PBGC) can be defined as, An independent federal government agency established in 1974 under the Employees Retirement Income Security Act (ERISA). The purpose of the PBGC is to ensure that the company's pension obligations are met. For example, in the case of a company pension program with financial difficulties to pay retirement benefits to former employees. However, these payments are subject to a certain maximum monthly amount per employee based on age and years of service. The PBGC is financed with bonuses paid through the pension program.

The Independent Federal Government Agency, which manages pension schemes, will ensure that benefits are paid to employees whose pension schemes have expired. Only specified benefit plans are covered. Benefits are paid to a certain extent

Federal agency responsible for managing the ERISA pension scheme.

Literal Meanings of Pension Benefit Guaranty Corporation (PBGC)

Pension:

Meanings of Pension:
  1. Formal retirement payment by an individual from a mutual fund in which that person or employer contributed during your time.

  2. Usually fire someone because of their age or health, and give them a pension.

  3. Pensions in France and other European countries that offer full or partial pensions at a fixed rate.

Sentences of Pension
  1. Permanent participation in the pension scheme is a safe guarantee of old age.

  2. At the end of the war, he retired from the army

  3. Indeed. , It is a beautiful and ordinary Austrian city with many inns, hotels and restaurants for travelers.

Benefit:

Meanings of Benefit:
  1. Achieve success.

Sentences of Benefit
  1. The social season is highlighted with the first balls and benefit shows

Synonyms of Benefit

profit, welfare, social security payments, insurance money, well-being, enjoyment, reap benefits, interest, make money, good, gain, advantage, benefit payments, sick pay, government benefit, satisfaction, ease, public assistance allowance, social security, comfort, sake, reap financial reward, pension, state benefit

Corporation:

Meanings of Corporation:
  1. A company or group of people that has the authority to act as the sole (legal entity) and is thus legally recognized.

Sentences of Corporation
  1. Most lenders are large companies and insurance companies.

Synonyms of Corporation

group, federation, consortium, guild, multiple, house, office, business, agency, institution, firm, multinational, trust, syndicate, operation, combine, concern, partnership, organization, conglomerate, bureau, company