What Does PBGC Stand For?

PBGC stands for Pension Benefit Guaranty Corporation

The Pension Benefit Guaranty Corporation (PBGC) is a federal agency established to protect the retirement incomes of American workers in private sector defined benefit pension plans. By insuring pension plans, the PBGC ensures that beneficiaries receive their promised pension benefits even if their employer faces bankruptcy or is unable to meet its pension obligations. The agency operates under the Employee Retirement Income Security Act (ERISA) and plays a crucial role in maintaining the stability of the private pension system in the United States.