PBGC definition: Copy, customize, and use instantly
Introduction
The term "PBGC" refers to the Pension Benefit Guaranty Corporation, a U.S. government agency that provides insurance for defined benefit pension plans. It is essential for ensuring that pension benefits are protected for employees, even if their employer’s pension plan fails.
Below are various examples of how "PBGC" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "PBGC" as a pension insurance provider
This definition ties "PBGC" to its role as a provider of pension insurance.
"PBGC" means the Pension Benefit Guaranty Corporation, a U.S. government agency that insures defined benefit pension plans, ensuring that plan participants receive their benefits even if the employer’s plan is terminated.
Definition of "PBGC" as a pension plan protector
This definition connects "PBGC" to its protective function for pension benefits.
"PBGC" refers to the Pension Benefit Guaranty Corporation, which provides a safety net for employees by guaranteeing the payment of pension benefits if a defined benefit plan is underfunded or terminated.
Definition of "PBGC" as a government entity
This definition links "PBGC" to its status as a government-run organization.
"PBGC" means the federal government agency that was established to protect the pensions of workers in defined benefit plans by assuming responsibility for pension benefits if a plan terminates without sufficient assets.
Definition of "PBGC" for pension security
This definition applies "PBGC" to its role in securing pension plans.
"PBGC" refers to the Pension Benefit Guaranty Corporation, the U.S. government agency that insures pension plans against failure, ensuring that workers’ pension benefits are preserved even in cases of corporate insolvency.
Definition of "PBGC" for underfunded pension plans
This definition ties "PBGC" to its role in covering underfunded pension plans.
"PBGC" means the agency responsible for taking over and paying benefits for pension plans that are underfunded or otherwise at risk of failure due to employer insolvency.
Definition of "PBGC" for pension plan termination
This definition connects "PBGC" to its role in pension plan terminations.
"PBGC" refers to the Pension Benefit Guaranty Corporation, which steps in to cover the pension benefits of employees when a defined benefit pension plan is terminated or when an employer defaults on its obligations.
Definition of "PBGC" for pension plan trusteeship
This definition links "PBGC" to its role as a trustee for failed pension plans.
"PBGC" means the Pension Benefit Guaranty Corporation, which serves as the trustee for pension plans that are terminated due to insolvency, ensuring that plan participants continue receiving their pension benefits.
Definition of "PBGC" as a retirement plan insurer
This definition connects "PBGC" to its role as an insurer for retirement plans.
"PBGC" refers to the Pension Benefit Guaranty Corporation, the entity responsible for insuring the benefits of employees participating in defined benefit pension plans, protecting workers from the risk of pension loss due to employer defaults.
Definition of "PBGC" for federal pension coverage
This definition ties "PBGC" to its role in federal pension coverage.
"PBGC" means the federal agency that provides coverage for pension plans, ensuring that employees continue to receive their benefits up to certain limits if their employer’s pension plan terminates without sufficient funds.
Definition of "PBGC" for corporate pension obligations
This definition connects "PBGC" to its role in corporate pension obligations.
"PBGC" refers to the Pension Benefit Guaranty Corporation, which helps secure pension obligations by providing insurance against the failure of an employer’s defined benefit pension plan.
Definition of "PBGC" for defined benefit plans
This definition applies "PBGC" to its role in defined benefit plans.
"PBGC" means the government agency that guarantees the pensions of employees participating in defined benefit plans, protecting them from losing their benefits if a plan fails or is underfunded.
Definition of "PBGC" as an employee benefit safeguard
This definition links "PBGC" to its safeguard role for employee benefits.
"PBGC" refers to the Pension Benefit Guaranty Corporation, which ensures that employees in defined benefit pension plans continue receiving their promised pension benefits even if their employer defaults on the plan.
Definition of "PBGC" as a retirement insurance program
This definition ties "PBGC" to its function as a retirement insurance program.
"PBGC" means the Pension Benefit Guaranty Corporation, a government entity that provides insurance for defined benefit pension plans, ensuring that employees will receive their pension benefits if the employer’s plan fails.
Definition of "PBGC" for workers’ retirement security
This definition applies "PBGC" to workers’ retirement security.
"PBGC" refers to the U.S. government agency that guarantees retirement benefits for employees in defined benefit pension plans, providing security to workers whose pension plans are terminated.
Definition of "PBGC" as a pension benefits guarantor
This definition links "PBGC" to its role as a guarantor of pension benefits.
"PBGC" means the agency that guarantees pension benefits for participants in defined benefit pension plans, stepping in to pay the promised benefits if the employer’s plan terminates underfunded.
Definition of "PBGC" for pension asset protection
This definition ties "PBGC" to its role in protecting pension assets.
"PBGC" refers to the federal agency that helps protect pension plan assets by insuring pension benefits, ensuring that workers’ pensions are paid even if the employer’s plan is underfunded or fails.
Definition of "PBGC" for pension benefit recovery
This definition connects "PBGC" to pension benefit recovery.
"PBGC" means the Pension Benefit Guaranty Corporation, the government agency responsible for recovering pension benefits for employees when an employer’s pension plan is terminated due to insolvency or other factors.
Definition of "PBGC" as a retirement plan safety net
This definition ties "PBGC" to its role as a safety net for retirement plans.
"PBGC" refers to the Pension Benefit Guaranty Corporation, which acts as a safety net for defined benefit pension plans, ensuring employees’ pension benefits are paid even if their employer defaults on the plan.
Definition of "PBGC" for pension plan protections
"PBGC" refers to the Pension Benefit Guaranty Corporation, a U.S. government agency that provides protection for pension plan participants, ensuring that their pension benefits are paid even if their employer’s plan terminates underfunded.
Definition of "PBGC" for retirement plan security
"PBGC" means the Pension Benefit Guaranty Corporation, which safeguards employees’ retirement benefits by taking over underfunded pension plans when employers are unable to meet their obligations.
Definition of "PBGC" as a pension safeguard
"PBGC" refers to the Pension Benefit Guaranty Corporation, the federal entity that ensures employees in defined benefit pension plans receive their benefits even if their employer’s plan fails or terminates.
Definition of "PBGC" for worker pension guarantees
"PBGC" means the government agency that guarantees pension benefits for workers, stepping in to ensure that participants in defined benefit pension plans continue to receive their benefits in the event of employer default.
Definition of "PBGC" for financial assistance to pension plans
"PBGC" refers to the federal agency that provides financial assistance to underfunded pension plans, ensuring continued pension benefits to plan participants when a pension plan is unable to meet its obligations.
Definition of "PBGC" for insolvency protections
"PBGC" means the Pension Benefit Guaranty Corporation, which provides protections for pension plan participants if their employer’s pension plan becomes insolvent or is otherwise unable to fulfill its obligations.
Definition of "PBGC" as a pension plan insurer
"PBGC" refers to the federal agency responsible for insuring pension plans, ensuring that workers continue to receive their defined benefits if their employer’s pension plan is terminated or underfunded.
Definition of "PBGC" for pension plan bankruptcy
"PBGC" means the Pension Benefit Guaranty Corporation, which steps in when an employer’s pension plan faces bankruptcy, guaranteeing that pension benefits will still be paid to employees.
Definition of "PBGC" as pension default insurance
"PBGC" refers to the agency that insures pension plans, providing a financial safety net to pension plan participants in the event their employer defaults on the plan’s obligations.
Definition of "PBGC" as a pension benefit trustee
"PBGC" means the federal trustee for pension plans, overseeing the distribution of pension benefits to employees when a plan terminates or is otherwise unable to meet its obligations.
Definition of "PBGC" for retirement benefit guarantees
"PBGC" refers to the U.S. government entity that guarantees the retirement benefits of employees in defined benefit plans, ensuring that pension payouts continue even in the event of employer insolvency.
Definition of "PBGC" for pension plan failures
"PBGC" means the Pension Benefit Guaranty Corporation, which provides insurance to defined benefit pension plans, ensuring that participants continue receiving their benefits if their employer’s plan fails or is terminated.
Definition of "PBGC" as an employee pension benefit provider
"PBGC" refers to the agency that provides pension benefits to employees whose employer’s pension plan has been terminated, either due to insolvency or other factors.
Definition of "PBGC" for protection against pension plan insolvency
"PBGC" means the Pension Benefit Guaranty Corporation, which provides protection against pension plan insolvency by stepping in and ensuring that employees’ benefits are paid even if their employer’s plan fails.
Definition of "PBGC" as a safety net for pension funds
"PBGC" refers to the federal safety net for pension funds, ensuring that employees continue to receive their pension benefits if their employer’s plan is terminated or lacks sufficient funds.
Definition of "PBGC" for post-termination pension coverage
"PBGC" means the government agency that takes over pension plan benefits when a pension plan is terminated, ensuring continued coverage for employees even if the employer is unable to fulfill its obligations.
Definition of "PBGC" for defined benefit pension plans
"PBGC" refers to the agency responsible for insuring defined benefit pension plans, ensuring that pension benefits are paid to participants if the employer’s plan terminates without sufficient funding.
Definition of "PBGC" as a government pension insurance program
"PBGC" means the Pension Benefit Guaranty Corporation, a government-run insurance program that guarantees pension benefits for employees if their employer’s pension plan is unable to meet its obligations.
Definition of "PBGC" as pension guarantee administrator
"PBGC" refers to the agency that administers the pension guarantee program, ensuring that employees’ pension benefits are paid when an employer’s pension plan terminates due to insufficient funding.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.