When an employer agrees to provide a specific level of income upon retirement
What is defined benefit
100
Bill C-12 was originally brought forward by him
What is Pat Martin
100
ERISA stands for
What is Employment retirement insurance security act
100
Is short for PBGC
The pension Benefit Guaranty corporation
100
When a company does not pay their portion into the fund
What is underfunding
200
plan under which the employer agrees to provide specific contributions
What is defined contribution
200
guarantees of payments for wages, vacation, severance and termination pay
What is Wage Earner Protection Plan Act (WEPP)
200
1974
What is the year ERISA was implemented
200
The creator of the PBCG
ERISA
200
maximum monthly amount that the PBGF gives
What is $1000/month
300
The point at which an employee becomes entitled to a pension provided by employer contributions
What is vesting
300
Canadian Company recently affected by bankruptcy
What is Nortel
300
This company was the reason congress enacted ERISA
what is the Studebaker Automobile company
300
the PBGC protects the rights of these types of pension plans
What are defined benefit plans
300
This type of bankruptcy is when the company begins to liquidate its assets to pay its creditors and closes its doors, creating a greater chance that any company sponsored pension and benefit plans will be terminated.
What is chapter 7
400
Government sponsored program designed to replace employment income in the event of retirement, death or disability
What is CPP
400
Bill that hopes to bring up the pensioners on the creditors list
What is Bill C-501
400
This is the country where ERISA is active
What is the United States
400
This is how the PBGC is funded
What is through insurance premiums paid by employers
400
Only province covered by a pension Insurance
What is Ontario
500
These people rule the world
pension plan managers/administrators
500
PBGF
What is Pension Benefits Guarantee Fund
500
Breach of fiduciary duty gives employees the right to do this
What is sue
500
the PBGC protects the pensions of this many american workers
What is 44 million
500
This type of bankruptcy the company will continue its business under the courts protection while pursuing reorganization of its financial affairs