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Which insurance company insures the congressional pension plan?
Wiki User
∙ 14y ago
Obviously, the U.S. taxpayers insure the congressional pension plan!
Just like deficits the Congress creates, it is the U.S. taxpayers who must pay for their folly.
Wiki User
∙ 14y ago
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What company insures the pension trust of Congress?
Snopes.com is investigating a claim that AIG (bailed out by Congress) insures the Congressional Pension Trust. Their status is undetermined at this time.
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The Pension Benefit Guaranty Corporation, or PBGC is responsible for insuring your pension benefits. In most cases, your pension benefit would be insured up to certain limits. For 2009, a 65 year old has a maximum insured benefit of $54,000 annually. So, as long as your pension benefit is equal to, or less than this limit, you'd still have your full pension benefit even if your company goes under or the pension plan terminates.
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