Question

Pension Benefit Guaranty Corporation (PBGC) insurance coverage is required for which of the following plans? Traditional...

Pension Benefit Guaranty Corporation (PBGC) insurance coverage is required for which of the following plans?

  1. Traditional defined benefit pension plan
  2. Target benefit pension plan
  3. Money purchase pension plan
  4. Profit-sharing plan

Question 10 options:

I and II

I and IV only

I only

III and IV only
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Homework Answers

Answer #1

Answer:

Numerous employers in the service sector industries give no retirement plans to their workers; and when these employers also provide plans, they have would in general support defined contribution plans rather than plans that target benefits to long services workers as characterized under the traditional defined benefit plans.

Hence, the answer is “I only”.

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