Pension Benefit Guaranty Corporation - PBGC
A non-profit corporation, functioning under the jurisdiction of the Department of Labor, that guarantees the payment of certain pension benefits under defined-benefit plans that have been terminated with insufficient money to pay benefits.
Investopedia Commentary
This federal corporation was established to insure that participants of defined-benefit plans aren't left out in the cold if there isn't enough money in the pension plan to meet the needs of people about to retire (i.e. in the event of a pension shortfall).
Related Links
Analyzing Pension Risk
How To Evaluate Pension Risk By Analyzing Annual Costs
Lump Sum Versus Regular Pension Payments
See also: 401(k) Plan, Defined-Benefit Plan, Department of Labor - DOL, Employee Benefits Security Administration - EBSA, Employee Retirement Income Security Act - ERISA, Fiduciary, Individual Retirement Account - IRA, Pension Plan, Pension Shortfall
Also spelled: Pension Benefit Guarantee CorporationPBGC
Pension Benefit Guaranty Corporation