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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Congress wants Delphi pension situation to be 'fixed'
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Pension Benefit Guaranty Corporation PBGC Selects Siteworx for Web site Evaluation and User Experience Enhancements
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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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Time for true pension reform Politico
News & Analysis
Filter by
agency and pension benefit guaranty corp. - All News and Analysis
Pension agency downplays risks, GAO says
- 2008-08-18
WASHINGTON -- The federal agency charged with backstopping pension benefits for 44 million Americans has understated the risks of its new investment policy, a congressional watchdog said. The Government Accountability Office said in a report released today that the Pension Benefit Guaranty Corp.'s new strategy could significantly boost...
Bogged down
- 2006-11-17
Confusing court rulings create a chaotic regulatory environment. And the Roberts court is already generating plenty of both. The U.S. Supreme Court's less-than-decisive ruling earlier this year in a critical clean-water case, which tested whether the regulatory reach of federal agencies extends to virtually every wet or soggy spot in...
Shouldering the load
- 2005-11-28
With the holiday season upon us, many people think about hopping on a plane to visit friends and relatives. But travelers who follow the news might have some concerns about the financial viability of the airline they've chosen for their travel, as troubled carriers seem to be a regular feature...
Congress fiddles with pension reform bill while PBGC burns; Legislation unlikely to pass even though agency's deficit is seen as worsening.(News)(Pension Benefit Guaranty Corp)
- 2005-11-14
Byline: Vineeta Anand WASHINGTON - Days before the PBGC is expected to announce a worsening of its financial condition, two senators agreed to allow the huge pension bill they had been holding hostage since early October to proceed to the full Sen Byline:...
Legislation stalls on sustaining company-based pension plans
- 2005-10-24
WASHINGTON -- Nearly everyone -- business, labor, Republicans, Democrats -- agrees that something must be done to sustain company- based pension plans and make sure that the federal agency insuring them doesn't become a financial basket case. Getting Congress to agree on legislation is another matter. ...
PBGC says legislation could worsen its financial woes.(Tax Watch)
- 2005-10-17
Byline: Mark Battersby The Pension Benefit Guaranty Corp., the federal agency that insures private pension plans, has concluded that its financial problems could get worse under House and Senate bills intended to strengthen the traditional pe Byline: Mark...
PBGC to fight United plan.(News)(Pension Benefit Guaranty Corp)(United Air Lines Inc.)(Brief Article)
- 2005-10-17
The Pension Benefit Guaranty Corp. PBGC vows to fight United Airlines' proposed reorganization plan, claiming it "materially breaches'' the terms of a settlement that gave the agency control of the Elk Grove Township-based airline's underfund The Pension Benefit Guaranty Corp. PBGC vows to fight United...
EBRI Fact Sheet Available on Pension Agency
- 2005-06-22
WASHINGTON, June 22 /U.S. Newswire/ -b The nonpartisan Employee Benefit Research Institute EBRI today published a four-page fact sheet with background information and charts about the Pension Benefit Guaranty Corporation PBGC, the federal agency that WASHINGTON, June 22 /U.S. Newswire/ -b The nonpartisan Employee Benefit Research Institute EBRI today published...
United Airlines to terminate pensions — who's next?
- 2005-05-15
WASHINGTON -- Oh dear, more bad news on the retirement front. Just as President Bush pledged again to keep pushing for partial privatization of Social Security -- after proposing to cut the benefits of future middle-income retirees -- a bankruptcy judge has approved United Airlines' bid to terminate...
Pension agency at risk.(Brief Article)
- 2005-03-11
PENSION AGENCY AT RISK. The Government Accountability Office last week told a panel of the House Government Reform Committee that the Pension Benefit Guaranty Corporation "faces moral hazard" because it "lacks the authority, unlike oth PENSION AGENCY AT RISK. The Government Accountability Office last week...
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 |
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Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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