Upon an involuntary plan termination initiated by the PBGC, in what priority order are benefits satisfied?
-
A
All benefits are paid equally regardless of type
-
B
PBGC-guaranteed benefits are paid first, then non-guaranteed benefits from remaining assets
-
C
Benefits are paid in the order: basic PBGC-guaranteed benefits, employee contributions, other vested benefits, non-vested benefits, and then benefit increases within 5 years
-
D
Active employees are paid before retirees