Pension Benefit Guaranty Corporatio (PBGC)

Definition

Pension Benefit Guaranty Corporation (PBGC) (U.S.) - An independent agency established by the Employee Retirement Income Security Act (ERISA) of 1974 that insures benefits for participants in private-sector defined benefit plans. Subject to certain limitations and guidelines, benefits are guaranteed by the PBGC in the event a plan sponsor is unable to provide sufficient assets to pay benefits.

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