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What types of plans does the PBGC insure?

April 26, 2017insure pbgc plans types

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What types of plans does the PBGC insure?

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PBGC Spokesperson: The PBGC insures defined benefit plans. This type of plan promises to pay a monthly benefit for life when you retire. Your benefit is based on your age, salary and years of service. The PBGC does not insure profit-sharing or 401(k) plans. The PBGC covers single-employer plans, which are normally sponsored by an individual company. We also insure multi-employer plans covering unionized workers in the same industry.