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The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension
How does PBGC protect employees?
The Pension Benefit Guaranty Corporation (PBGC) insures certain defined benefit pension plans offered by private-sector employers. PBGC protects single-employer pension plans and multiemployer pension plans in separate insurance programs.
Why did I get a letter from PBGC?
Do you receive a benefit from PBGC? If so, you sometimes may need a letter from us to prove your pension income for housing assistance, a mortgage or other loan, or verification for another agency. You can get an income verification letter instantly through our online service, MyPBA: My Pension Benefit Access.
Is PBGC a legitimate company?
PBGC is a federal agency created by the Employee Retirement Income Security Act of 1974 (ERISA) to protect pension benefits in both single-employer and multiemployer private sector pension plans - the kind that typically pay a set monthly amount at retirement.
What federal agency protects pension benefits?
The Pension Benefit Guaranty Corporation insures and guarantees private sector workers pensions.
OGCs Bankruptcy, Transactions, and Terminations Department (BTTD) oversees and directs the comprehensive legal services to PBGC relating to enforcement of PBGCs ERISA programs as relates to bankruptcy, transactions, and terminations, and support to the General Counsel.
What is the main purpose of the Pension Benefit Guaranty Corporation quizlet?
The main purpose of the Pension Benefit Guaranty Corporation is to administer terminated plans and to impose liens on the employers assets for certain unfunded pension liabilities.
How do I contact PBGC?
Call: 1-800-400-7242 PBGC Customer Contact Center hours are 8:00 a.m. to 7:00 p.m. Eastern Time, Monday Friday (except federal holidays ). If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
Is the PBGC a government agency?
PBGC is a federal agency created by the Employee Retirement Income Security Act of 1974 (ERISA) to protect pension benefits in both single-employer and multiemployer private sector pension plans - the kind that typically pay a set monthly amount at retirement.
What does the Pension Benefit Guaranty Corporation do?
Welcome to PBGC! We protect the retirement security of over 33 million Americans in single-employer and multiemployer pension plans. Our goal is to provide the highest level of customer support and to protect workers and retirees hard-earned pension benefits.
Related links
Contact Us | Pension Benefit Guaranty Corporation
PO Box 151750. Alexandria, VA 22315-1750. Include your full name, customer ID, or the last four digits of your Social Security number at the top of each
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