An independent federal government agency that administers the Pension Plan Termination Insurance program to ensure that vested benefits of employees whose pension plans are being terminated are paid when they come due. Only defined benefit plans are covered. Benefits are paid up to certain limits.

"Pension Benefit Guaranty Corporation" In Context

"Mitt Romney has a bizarre new anti-union web video featuring two people whose pensions and retiree health benefits were cut when auto parts manufacturer Delphi dumped its pension on the Pension Benefit Guaranty Corporation. The video is going ..."