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Insurance Definition: PENSION BENEFIT GUARANTY CORPORATION

By Compuquotes Team on March 27th, 2008

PENSION BENEFIT GUARANTY CORPORATION:

Definition:

  • An independent federal government agency that administers the Pension Plan Termination Insurance program to ensure that vested benefits of employees whose pension plans are being terminated are paid when they come due. Only defined benefit plans are covered. Benefits are paid up to certain limits.

Information provided by Insurance Information Institute

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