Alert
Close

Think you know AARP? What you don't know about us may surprise you. Discover all the 'Real Possibilities'

Highlights

Open

most popular
ARTICLES

Viewed

Commented

work
PROGRAMS

Best Employers for Workers Over 50

See the latest winners of this AARP recognition program.

Employer Resource Center

Attract and retain top talent in a changing workforce.

Ask the Experts

Going Out of Business

Are my pension funds at risk?

Q. If my company goes out of business, will I lose my pension benefits?

A. Your pension funds should not be at risk when a plant or business closes, since employers are required to comply with federal laws when managing pension plans. The consequences are serious when those assets are not handled properly.

That said, if your company has not adequately funded its pension plan, the federal Pension Benefit Guaranty Corporation (PBGC) would insure your benefits but probably not for the full amount. The PBGC only pays benefits up to a certain maximum amount to workers in that situation.

The U.S. Department of Labor has published a booklet, "Protect Your Pension: A Quick Reference Guide," that can be accessed at www.dol.gov. To receive a copy of the guide, write to:

U.S. Department of Labor
Employee Benefits Security Administration
200 Constitution Avenue NW, Suite N-5625
Washington, DC 20210

Source: John Turner

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Your Work

Jobs You Might Like

Discounts & Benefits

Explore Your Learning Possiblities