Appointment Of Trustees For Terminated Plan

Definition of "Appointment of trustees for terminated plan"

Mitzi Andrew real estate agent
Mitzi Andrew, Real Estate Agent Keller Willims Spring Hill

Plan initiated by the pension benefit guaranty corporation (PBGC) upon the involuntary termination of a pension plan. With the concurrence of the United States District Court, the PBGC appoints a trustee(s) to administer the terminated plan. The trustee (s) safeguards the remaining assets of the pension plan, protects the assets from being further depicted, limits further increases in liabilities, and in general acts as protector of the benefits for the pension plan's participants.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions