“ If you are in a traditional (defined benefit) pension plan, with promised benefits, some of your benefits may be insured by the Pension Benefit Guaranty Corporation (PBGC), a Federal Government corporation. If a defined benefit plan is terminated because an employer has financial difficulty and cannot fund the plan, and the plan does not have enough money to pay the promised benefits, the PBGC will assume responsibility for the plan. The PBGC pays benefits after termination up to a certain maximum guaranteed amount.”
Plus PPA and VPA aren’t at risk no matter what. Plus knowing the actual pension is PBGC backed is a plus. . Our retirement income is from a major worldwide company. I have confidence in the ability for the Company to maintain its status.