Benefits

PBGC will look to the terms of the plan documents in determining whether a benefit is nonforfeitable.

How to determine eligibility for a “Category 3 Benefit,” which is a benefit of a participant who retired, or could have retired, 3 years or more before the plan terminated.

PBGC, once it is appointed statutory trustee of a terminated plan, pays lump sums to participants entitled to small benefits.

A plan sponsor has no liability for the benefits in a terminated plan that were provided to plan participants through the distribution of irrevocable commitments purchased from an insurance company.