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Benefit guarantee

  • Opinion Letter 76-85

    PBGC is precluded from guaranteeing expanded benefits to which participants would become entitled to (become nonforfeitable) upon the plan’s termination.

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  • Opinion Letter 78-18

    PBGC guaranteed benefits are not impacted by funding difficulties, and an employer is liable to PBGFC to the extent guaranteed benefits exceed plan assets

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  • Opinion Letter 86-28

    PBGC deducts an annuity purchase when calculating a participant’s maximum guaranteed benefit.

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  • Opinion Letter 76-112

    A participant who has completed the requisite number of years of service and has attained retirement age has a nonforfeitable vested benefit in the plan, even if he has not ended his employment as the time of plan termination.

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  • Opinion Letter 76-72

    Provides that because guaranteed benefits are determined at time of plan termination, a clause in a plan that provides for the cessation of benefits in pay status of participants who violate prohibitions against certain competitive employment will be determined at such time that the clause becomes applicable to a participant.

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  • Opinion Letter 90-04

    Addresses whether interest rate changes subsequent to the mass withdrawal valuation date may be considered in determining the reallocation liability upon a mass withdrawal. It also addresses the burden of proof a multiemployer plan must satisfy to show an amendment increasing benefits was adopted earlier than the formal date of adoption which would make payment of the benefit increase covered by the PBGC guarantee.

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  • Opinion Letter 81-07

    Following a restructuring of three pension plans maintained by one company, each restructured plan remains a Title IV covered plan, each plan qualifies as a successor plan, and the plan sponsor would be liable to PBGC for any funding deficiency at termination.

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  • Opinion Letter 85-26

    Employees that are eligible for retirement but continue to work for a new employer after a company purchases it are not treated as retirees.

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