PBGC

PBGC stands for the Pension Benefit Guaranty Corporation, which is a federal agency, established as a not-for-profit corporation, and is charged with administering certain pension plans and union plans under Title IV of the Employee Retirement Income Security Act of 1974 (ERISA). The PBGC essentially insures and guarantees benefits under certain pension plans up to a certain level, and for such insurance, employers periodically pay premiums to the PBGC.