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
bankruptcy and pension benefit guaranty corp. and united airlines - All News and Analysis
Retired pilots lose pension dispute Appeals court sides with United, active pilots.(Business)
- 2006-10-27
Byline: Melanie G. Rogers Medill News Service On the eve of still another United Airlines bankruptcy hearing, the company won an important pension plan dispute in the 7th Circuit Court of Appeals in Chicago. "We're pleased with the ruling," United spokesman ...
Pension pains: ERISA ... what did it do to your pension?(Staying Legal)
- 2005-07-01
We have all been reading about the losses suffered by employees in the air carrier business and others as a result of bankruptcies and the termination of their pensions. Here is a brief discussion of what's been going on. [ILLUSTRATION OMITTED] ...
Pension funds: UAL, unions still at odds over termination plans; Flight attendants, machinists seek appeals to thwart airline's agreement with PBGC.(News)
- 2005-05-30
Byline: Nicholas Braude CHICAGO - UAL Corp.'s United Airlines continues to face intense opposition from labor groups and legislators in the weeks following bankruptcy court approval of a deal that allows the carrier to unload its pension plans ont Byline: Nicholas Braude ...
Pension problems aren't limited to unionized workers
- 2005-05-17
While we are very aware of the pension problems at United Airlines and at the Pension Benefit Guaranty Corp., the government's pension insurer, it seems we've forgotten about non-union employee losses ("United to ditch pension plans," Money, Wednesday). Many have commented that unionized employees brought the troubles on themselves...
US panel agrees to take over UAL pilots' pension plan
- 2004-12-30
WASHINGTON AFP — The US agency that insures corporate pension funds said it had reluctantly agreed to assume responsibility for bankrupt United Airlines' underfunded pilots' pension plan. The decision means the agency will be liable for 1.4 billion dollars in unfunded benefits, making this the third-largest claim in the...
Broader impact from airline pension woes feared
- 2004-11-01
With three major airlines now in a fiscal tailspin, concern is growing not only that this industry may be facing a large-scale pension funding crisis, but also that all defined benefit plan sponsors could wind up paying for these companies' failures. United Airlines and US Airways are already in...
US Airways: Workers should not count on pension
- 2004-10-08
ALEXANDRIA, Va. -- US Airways lawyers told a federal bankruptcy judge here Thursday that the carrier can't afford to maintain its current pension plans. The lawyers said US Airways has no choice but to cut back if the company is to become solvent. Workers "shouldn't be counting on their...
Airlines may ground employee pension plans.
- 2004-09-28
By Kimberly Blanton, The Boston Globe Knight Ridder/Tribune Business News Sep. 28--First it was the steel industry, now it's the airlines. United Airlines and US Airways Group Inc., both in bankruptcy protection, have warned they might terminate employee pension plans...
Fed up with pension defaults
- 2004-09-15
Citing failure of two big airlines to make payments to their pension plans, top government officials Tuesday called on Congress to make it harder for corporations to dump their obligations on taxpayers. Bradley Belt, executive director of the federal Pension Benefit Guaranty Corp., said his agency needs a stronger...
Companies fail workers
- 2004-08-24
Today's debate: Pension troubles Our view: Loopholes lead to underfunding of plans, unfulfilled promises. For decades, United Airlines has promised to take care of its pilots, flight attendants and other workers in retirement. But that was before it plunged into financial distress. Last week, United said it plans...
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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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H&R Block, Inc. F2Q10 (Qtr End 10/31/09) Earnings Call and Investment Community Conference Transcript
on Dec 08, 2009about HRB
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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
Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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