Pension Benefit Guaranty Corporation (PBGC) Financial Glossary

What is it? A U.S. Government agency that was created to insure guaranteed pension benefits. PBGC has statutory authority to claim up to 30% of the net assets of a firm that sponsors a pension plan when an underfunded plan is terminated. Such a PBGC claim is granted the same priority over the claims of other creditors as a tax lien.

Finance Term Definition Added By: Brayden

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