Responding To PBGC Termination Of Benefit Plan: Part 3

Law360 (June 28, 2019, 1:25 PM EDT) -- This is the third of a three-part article that discusses the practical consequences of the Pension Benefit Guaranty Corporation choosing to involuntarily terminate a financially troubled defined benefit pension plan that is subject to the PBGC's pension insurance program. With limited coverage exceptions, the PBGC will step in to protect participants' and beneficiaries' accrued benefits in the defined benefit plan of a financially troubled plan, up to PBGC-guaranteed benefit limits.[1]

The first part of this three-part article discussed the circumstances that could lead the PBGC to select a plan for involuntary termination. The second part discussed plan sponsor responses to a PBGC...

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