An employer may send out a pension letter to notify eligible individuals of important information regarding their benefits. A pension letter may detail the specific amount that an individual is entitled to under their policy, or may serve as notification that the pension plan is being terminated. If an employer intends to end a pension plan, they are required to notify eligible individuals in writing by sending a "Notice of Intent to Terminate" letter at least 60 days before the plan is set to end. In the event of pension termination, some pension contracts (i.e. defined benefit pension plans) are covered by the Pension Benefit Guaranty Corporation ("PBGC"). The PBGC is the federal agency which insures/guarantees that certain pensions and retirement benefits will be paid to employees in the event that an employer files for bankruptcy, becomes insolvent or is otherwise unable to provide the promised pension benefits. The PBGC will send out a pension letter to provide specific information to individuals outlining available assets, individual benefits and participation eligibility.