Pension Plan Termination Insurance
Definition of "Pension plan termination insurance"
Coverage provided by the pension benefit guaranty corporation (pbgc) that guarantees participants a certain level of pension benefits even if the plan terminates without assets. The PBGC was authorized under the employee retirement income security act of 1974 (erisa). The insurance, paid for by employers, protects vested interest only.
Popular Insurance Terms
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12-month period from the date of issue of a policy as stated in its declarations section. ...
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