pickwick production offered employees a defined-benefit retirement plan, in which retirees received benefits calculated on the basis of their age, earnings, and years of service. but the company didn't keep up with technology, and its earnings fell. when the stock market dipped, the company could no longer afford to keep paying for its retirement benefits. what protection will the retirees have in this situation? group of answer choices the pension benefit guarantee corporation will provide them with a basic benefit. the employees will receive a share of profits as part of the company's esop. because the plan was underfunded, the retirees will no longer receive benefits. the employees will receive payouts from their 401(k) plans. pickwick production must give the employees the option to sell their stock in the company.

Since the company could no longer afford to keep paying for its retirement benefits. The protection that the retirees have in this situation is option A: The Pension Benefit Guarantee Corporation will provide them with a basic benefit.

What does the Pension Benefit Guaranty Corporation aim to accomplish?

For nay form of covered plans that are said to be experiencing financial difficulty or are contracting, the PBGC controls plan terminations and imposes specific reporting requirements.

Note that over 33 million active and retired workers' retirement benefits are safeguarded by the Pension Benefit Guaranty Corporation (PBGC).

Therefore, one can say that the basic pension benefits under the PBGC basic plan are guaranteed, including pension benefits at normal retirement age, the majority of early retirement benefits, as well as disability benefits, and annuity benefits for surviving members of pension plan participants and as such, option A is correct.

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