Originally Posted by
Adlerdriver
The current plan pays a guaranteed level unless some pretty dire circumstances come to pass and the PBGC steps in. Not quite the same case as the variable plan which, in addition to the risks guaranteed by the PBCG, must also weather the vagaries of the market which might result in a lower pay out even without the PBGC.
I totally agree. I was commenting on the statement that the VB plan had a guaranteed payout level, which is not true. Sorry if referencing the PBGC caused confusion.