BNET Industries
- Private
- US
Dow Jones Description
PBGC is a federal corporation created by the Employee Retirement Income Security Act of 1974. It currently protects the pensions of 44.1 million American workers and retirees in 30,330 private single-employer and multiemployer defined benefit pension plans. PBGC receives no funds from general tax revenues. Operations are financed by insurance premiums set by Congress and paid by sponsors of defined benefit plans, investment income, assets from pension plans trusteed by PBGC, and recoveries from the companies formerly responsible for the plans.
Contact Information
Office of the General Counsel
1200 K Street, N.W.
Washington, District of Columbia 20005-4026
(202) 326-4400
Peer Companies
NAICS Code Pension Funds: 525110
Recent Events
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Blue Wolf Exec to Head U.S. Pension Agency
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Hayes Lemmerz strikes deal with PBGC, retirees
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Delphi retirees head to D.C.: Group will have hearing on lost benefits before Senate committee
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The PBGC strikes again
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NC's Hanesbrands boosts pension plan guarantees
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BRIEF-U.S. pension agency reaches $13.8 mln agreement with Hanesbrands
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Suit filed by ex-Delphi salaried group
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Pilots Sue to Drop PBGC as US Airways Pension Plan Trustee
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Time for true pension reform Politico
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Catapult Technology wins $1.4 million contract from PBGC
News & Analysis
Filter by
401(k) plan and pension benefit guaranty corp. - All News and Analysis
CalSTRS staff: Replace principles with UN initiative.(News Briefs)
- 2006-10-30
SACRAMENTO, Calif. - CalSTRS staff proposed scrapping the fund's nearly 30-year-old statement of investment responsibility, replacing it with the United Nations Environment Program financial initiative. Adopting the UNEP principles would put the pens SACRAMENTO, Calif. - CalSTRS staff proposed scrapping the fund's nearly 30-year-old statement...
Senate panel to vote on pension funding reforms.(News)
- 2005-07-25
Byline: JERRY GEISEL WASHINGTON-Legislation stiffening pension funding rules is headed for a Senate tax committee vote this week. The Finance Committee on Tuesday will take up, and almost certainly pass, a bipartisan measure introduced late last Byline: JERRY GEISEL ...
NCR registers new approach to pension plan; Latest to phase out defined benefit plan.(News)(NCR Corp.)
- 2004-07-05
Byline: JERRY GEISEL DAYTON, Ohio-Another major U.S. employer is phasing out its defined benefit pension plan. Information technology giant NCR Corp. of Dayton, Ohio, plans to close off its $2.8 billion pension plan to new and younger employees Byline: JERRY...
News Briefs; University of California gives up its court battle; discloses limited private equity investment data.
- 2003-10-13
BERKELEY, Calif. - University of California officials released limited information Oct. 3 about its $80 million in private equity investments, after losing a court battle to keep from disclosing the information. The court ordered the university to re BERKELEY, Calif. - University of California officials released...
News Briefs; PBGC chief warns of growing shortfall.(Fidelity Institutional Retirement Services Co., Fidelity's 401(k) plan business, gets new president)
- 2003-05-12
WASHINGTON - Steven A. Kandarian, executive director of the Pension Benefit Guaranty Corp., warned the agency's shortfall has grown to about $5.4 billion - the largest ever - from $3.6 billion as of Sept. 30. Speaking April 30 before the House Select WASHINGTON - Steven A....
At Deadline.(multiple briefs)
- 2002-09-16
Class-action suit filed WorldCom Inc.'s 401k plan participants filed a class-action lawsuit in the U.S. District Court in New York against the plan's administrators and directors, claiming ERISA violations. Defendants include Bernard Ebbers, for Class-action suit filed WorldCom Inc.'s 401k...
At Deadline.(various appointments in banking industry, lawsuits and services information)(Brief Article)(Statistical Data Included)
- 2001-11-12
$19 billion affected in deal Northrop Grumman's proposed acquisition of Newport News Shipbuilding will bring together about $19 billion in combined retirement assets, according to the latest available company documents. Newport News has $652 mil $19 billion affected in deal ...
News Briefs;Eastmet trustee sentenced for embezzling.
- 2000-02-07
BALTIMORE -- Robert Edward Baker, a former trustee of the Eastmet 4049 Trust, was sentenced by a judge in U.S. District Court in Baltimore to 36 months in prison for embezzling pension funds and lying to the Pension Benefit Guaranty Corp., according BALTIMORE -- Robert...
Milestones in U.S. benefits legislation from ERISA to the present.
- 1999-12-20
1974: Employee Retirement Income Security Act * Establishes participation, vesting and funding standards for pension plans. * Establishes the Pension Benefit Guaranty Corp. * Establishes fiduciary standards for pension plan sponsors. * Pre- 1974: Employee Retirement...
Feds encourage pensions: legislation intended to promote defined benefit plans.
- 1998-06-22
WASHINGTON - Amid a steady decline in pension coverage, federal policy-makers are beginning to take steps to encourage employers to offer and maintain defined benefit pension plans, the executive director of the Pension Benefit Guaranty Corp. says. OnWASHINGTON - Amid a steady decline in pension coverage,...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Glenn D. Gunnels | |
| Sherray Gibson | Senior Administrative Assistant |
Glenn D. Gunnels focuses his practice on all areas of employee benefits and executive compensation, including qualified and nonqualified retirement plans, welfare benefit plans, stock option plans, deferred compensation arrangements and executive employment agreements. Mr. Gunnels regularly advises corporate clients on compliance issues with respect to the U.S. Department of Labor, the U.S. Internal Revenue Service, and the Pension Benefits Guaranty Corporation. He has extensive experience with qualified retirement plans including 401(k), ESOP, and defined benefit plans; welfare benefit plans including COBRA and HIPAA issues; incentive compensation plans including stock options, supplemental retirement plans, and bonus arrangements; and employment agreements, including non-compete and confidentiality agreements. Mr. Gunnels also coauthored a chapter on retirement benefit considerations for LLCs for the book Limited Liability Companies in Kentucky.
| Organization | Position | Status |
|---|---|---|
| Schiff Hardin Llp | Partner | Current |
| U.S. Internal Revenue Service | Current | |
| Pension Benefit Guaranty Corporation | Current |
| Organization | Position | Status |
|---|---|---|
| Ncna | Administrative Assistant | Current |
| Pension Benefit Guaranty Corporation | Senior Administrative Assistant | Current |
Industry Transcripts by Seeking Alpha
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Navios Maritime Holdings Inc. Q3 2009 Earnings Call Transcript
on Nov 18, 2009about NM
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Progressive Corp. Q3 2009 Earnings Call Transcript
on Nov 11, 2009about PGR
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Nelnet Inc. Q3 2009 Earnings Call Transcript
on Nov 10, 2009about NNI
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American Apparel Q3 2009 Earnings Call Transcript
on Nov 10, 2009about APP
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MBIA Inc. Q3 2009 Earnings Call Transcript
on Nov 10, 2009about MBI
Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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