Appointment Of Trustees For Terminated Plan
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.
Popular Insurance Terms
Losses representing claims not paid. ...
Actual morbidity experience of an insured group as compared to the expected morbidity for that group. ...
Same as term Commingled Trust Fund: pooling of assets of two or more pension funds under common portfolio management. ...
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Critical point in the total amount of claims paid above which the excess insurance policy pays a percentage (generally 80-100%) of the claims for any policy year experience. ...
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Coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving records, are placed in a residual insurance market. Insurance ...
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