Which of the following is not a regulatory responsibility of the Pension Benefit Guaranty Corporation? Select one: a. They oversee the termination of covered plans. b. They administer an insurance program for defined-benefit plans. c. They interpret legislation. d. They administer an insurance program for defined-contribution plans
Which of the following is not a regulatory responsibility of the Pension Benefit Guaranty Corporation?
They oversee the termination of covered plans.
They administer an insurance program for defined-benefit plans.
They interpret legislation.
They administer an insurance program for defined-contribution plans.
In order to ensure the payment of pension benefits accrued by employees and retirees in the private sector defined benefit plans, the government established the Pension Benefit Guaranty Corporation (PBGC). General tax revenues do not provide any funding to the Corporation. Insurance premiums, investment income, assets from pension plans administered by PBGC, and reimbursements from the businesses formerly in charge of the trusteed plans are used to fund operations. For single-employer-defined benefit pension plans and multiemployer defined benefit pension plans, respectively, PBGC manages two insurance programmes.
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