💨 Abstract

The article discusses the implications of a company's bankruptcy on its pension plans. Key points include: - The Pension Benefit Guaranty Corporation (PBGC) insures defined-benefit pension plans, protecting them up to a certain limit if the employer goes bankrupt. - The PBGC covers most private-sector pension plans but excludes government, military, religious, and certain small professional practice pensions, as well as 401(k)s, IRAs, and other plans.

Courtesy: WTOP Staff