Ask Terry Questions Pension protections

Pension protections

By Terry Savage on January 01, 2021 | Financial Planning / Retirement

What are the $ limits of the Pension Protection Act ? Do they protect against lawsuits?

Terry Says

Read all about the PBGC — Pension Benefit Guarantee Corporation here. It guarantees the corporate pensions of more than 34 million Americans, but not “multi-employer pensions” like Labor Unions.

Here is a separate link to the guarantee limits which change yearly and depend on your income, age, and other factors.

The protection is for companies that file for bankruptcy, and have insured pension obligations.

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