### Question
Can you define what guaranteed benefit policy means?


### Answer
**Guaranteed benefit policy** is defined as the following in *29 U.S.C. § 1101*:

> an insurance policy or contract to the extent that such policy or contract provides for benefits the amount of which is guaranteed by the insurer

#### Citation:
  - *29 U.S.C. § 1101*
  - Heading: **CHAPTER 18-EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM > SUBCHAPTER I-PROTECTION OF EMPLOYEE BENEFIT RIGHTS > Subtitle B-Regulatory Provisions > part 4-fiduciary responsibility**

