PBGC (Pension Benefit Guaranty Corporation)

The Pension Benefit Guaranty Corporation (PBGC) is a U.S. government agency that protects retirees' pension benefits. If a company goes bankrupt and can't pay its employees' retirement benefits, the PBGC steps in to ensure workers still receive a portion of their promised pensions. Funded by insurance premiums from pension plans, the PBGC helps maintain financial security for millions of American retirees by safeguarding their accumulated benefits, thereby providing peace of mind during their retirement years. However, there are limits on the amount it can guarantee, depending on the type of pension plan.