The Employee Retirement Income Security Act (ERISA) of 1974 governs most private pension and benefit plans, easing pension eligibility rules, establishing the Pension Benefit Guaranty Corporation (PBGC), and setting guidelines for managing pension funds.
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.
PBGC Guaranteed Benefits refer to the portion of pension benefits that are guaranteed by the Pension Benefit Guaranty Corporation (PBGC) in the event that the pension plan sponsor defaults.
The Pension Benefit Guaranty Corporation (PBGC) is a federal corporation established under the Employee Retirement Income Security Act (ERISA) to guarantee basic pension benefits in covered plans. It administers terminated plans and can place liens on corporate assets for certain unfunded pension liabilities.
A retirement fund is a sum of money specifically reserved by an organization for retiring employees. The investment of retirement funds is increasingly significant in the stock market and is regulated by federal laws such as the Employee Retirement Income Security Act (ERISA) of 1974.
Standard termination refers to the process by which a defined benefit pension plan is voluntarily ended by an employer following specific regulatory guidelines.
