Sentences with phrase «multiemployer guarantee»

PBGC provides funds to make up the difference between the plan's assets and the amount needed to make benefit payments up to the statutory limit, referred to as the «multiemployer guarantee limit.»

For multiemployer plans, see Multiemployer Guarantee.

The multiemployer plan guarantee is subject to several legal limits, including the multiemployer guarantee, the phase - in limit, and a limit that is similar to the accrued - at - normal limit.

Multiemployer Guarantee - When a multiemployer pension plan fails, PBGC provides financial assistance in the form of a loan to the plan.

The multiemployer guarantee limit varies based on how many years each affected employee worked and the rate at which benefits were earned.

For multiemployer plans, a benefit or benefit increase that has been in effect under a plan for less than five years (60 months) is not eligible for PBGC's multiemployer guarantee.

Not exact matches

With corporations, the protection of the Pension Benefits Guarantee Corporation [PBGC] has kept pensions safe up to a limit — as of 2016, up to roughly $ 60K / year for those retiring at age 65 (less for younger retirees) from single - employer plans, and $ 12,870 / year at most for those in multiemployer plans.

What's worse, is that those in multiemployer trusts have a maximum guarantee that is around 30 % of what a single - employer plan would receive.

See Multiemployer Benefit Guarantees for more information.

PBGC's multiemployer plan guarantee applies only to benefits earned before the plan terminated.

PBGC's guarantee of the benefits in a terminated multiemployer plan — payable as financial assistance to the plan — starts if and when the plan is unable to make payments at the level guaranteed under ERISA.

See Multiemployer Plan Insolvency and Benefit Payments and Multiemployer Benefit Guarantees for more information.