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Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.02 sec. |
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PBGC is not funded by general tax revenues, but by insurance premiums set by Congress and paid by sponsors of defined benefit plans, investment income, assets from pension plans trusteed by PBGC and recoveries from the companies formerly responsible for the plans. If the objective relates to wanting to provide their employees with a retirement program at the lowest cost to the employer and provide adequate retirement income for the employee, nothing has changed because of the new federal legislation or the pending accounting changes to make a defined benefit plan any less attractive. Consider a uni-401(k) plan or a defined benefit plan with a 401(k) to maximize contributions. |
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