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Pbgc Form 700

Pbgc Form 700

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[Music] hello everyone I'm Michael Ruger I'm the managing partner Greenbush Financial Group today we'll be talking about what happens to your pension plan if the company that sponsors your pension plan goes bankrupt obviously super serious situation a lot of employees that have these pension plans are banking on them to be there so they can retire and some of them are sizeable but in that scenario that for some reason the company hits hardship and then they go bankrupt is there an organization that's steps in essentially to save your pension and continue to pay or you monthly benefit so some employees are aware that there is an organization out there called the PBGC which stands for Pension Benefit Guaranty Corporation so and the idea batata behind the PBGC is all these companies that have pension plans each year pay premiums into this PBGC and then they're supposed to be the backstop if a company defaults on essentially its pension plan and can make those payments they're supposed to

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