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If defined benefit plan governed by ERISA is terminated, a participant’s benefits are guaranteed by the Pension Benefit Guaranty Corporation (“PBGC”). An alternate payee’s benefits are also guaranteed and paid in the same ratio as the Participant’s benefit is guaranteed. The amount payable by PBGC may be less than what would have been paid had the plan not been terminated. Most plans are transferred to the PBGC due to bankruptcy (e.g. United Airlines frozen DB Plan is governed by PBGC).