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The PBGC is a governmental entity within the Department of Labor that guarantees the payment of certain benefits in the event a defined benefit plan terminates without sufficient assets to pay promised benefits. A PBGC covered plan is required to pay an annual premium but must meet certain distress requirements in order to receive benefits form the PBGC. Plans that are exempt from PBGC coverage and premium payments include 1) those that cover only substantial owners (more than 10% ownership) and their spouses, or 2) those sponsored by professional service employers with fewer than 25 active participants. Visit www.pbgc.gov for more information. Note that, in addition to other requirements, your Summary Plan Description must include special language if your plan is covered by the PBGC.