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This page has not been translated. Please go to PBGC.gov’s Spanish page for more information available in Spanish.

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Benefit guarantee

  • Opinion Letter 77-166

    Because benefit increases became effective through collective bargaining agreements (not specific action by the Board of Trustees), PBGC looks to the adoption and effective dates of those agreements to apply the five-year phase-in rule.

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  • Opinion Letter 78-20

    PBGC guarantees basis plan benefits only and does not guarantee the payment of non-basic plan benefits. 

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  • Opinion Letter 76-69

    Terminated, vested benefits are guaranteed when all conditions under the plan necessary to establish entitlement to the benefit at a specified age are satisfied even though participant has yet to attain retirement age on the date of plan termination.

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  • Opinion Letter 76-37

    Discusses how the five-year phase-in rule impacts guarantee of certain recent benefit increases and that certain early retirement supplements are not guaranteed.

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  • Opinion Letter 83-06

    Laid-off employees may accrue guaranteed benefits up to date of plan termination.

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  • Opinion Letter 79-07

    $20 minimum in the regulation is not subject to actuarial adjustment for the participant’s age at the time the benefit started.

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  • Opinion Letter 81-35

    Addresses the calculation of guaranteed benefits; PBGC measures benefits using plan factors at date of plan termination.

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  • Opinion Letter 77-162

    A profit-sharing benefit in the plan is nonforfeitable and a pension benefit because the plan states it may be paid as an annuity. Because PBGC guarantees and pays the benefit as an annuity, it won’t be paid in a lump sum if the plan is insufficient.

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