Pension Plan Termination Insurance

Objective

To encourage the continuation and maintenance of voluntary private pension plans for the benefit of their participants, to provide for the timely and uninterrupted payment of pension benefits to participants and beneficiaries in plans covered by the PBGC, and to maintain premiums charged by the PBGC at the lowest level consistent with carrying out its obligations.

Who Can Apply

• Small business (less than 500 employees)
• Profit organization
• Other private institutions/organizations

Private businesses and organizations that maintain defined benefit plans and participants (and beneficiaries) in such plans.

Who Benefits

• Individual/Family
• Senior Citizen (60+)
• Pension Recipient

All participants (and their beneficiaries) in covered single-employer pension plans may be potentially eligible for plan termination insurance payments. All covered multi-employer plans may be eligible for financial assistance needed to ensure payment of guaranteed benefits.