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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Time for true pension reform Politico
News & Analysis
Filter by
bankruptcy and pension benefit guaranty corp. and us airways group inc. - All News and Analysis
Airline, labor groups urge US Congress to ease pension rules
- 2005-06-07
WASHINGTON AFP — US airlines and labor unions urged Congress to ease rules for pension contributions, saying the current system may end up forcing more carriers into bankruptcy. Delta Air Lines chief executive Gerald Grinstein told a Senate Finance Committee hearing that pension liabilities are pushing some carriers to...
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...
Some Workers at American Choose Early Retirement to Protect Their Benefits.
- 2003-04-02
By Katie Fairbank, The Dallas Morning News Knight Ridder/Tribune Business News Apr. 2--An unusual number of American Airlines Inc. employees are looking to get out the door before their pensions disappear in a possible bankruptcy. Officials for the airline's three...
US Airways gets final OK on termination of pension
- 2003-03-29
ALEXANDRIA, Va. AP -- A federal judge on Friday gave his final approval to US Airways' termination of its pilots' pension plan, clearing the way for the airline to emerge from bankruptcy protection next week. The pension issue had been the last hurdle to the airline emergence. On...
US Airways files for distress termination of pilot defined benefit pension plan and approval of a new pilot defined contribution pension plan; Company commits USD850m over next seven years to fund pilot pensions; New defined contribution plan to adhere to
- 2003-01-31
M2 PRESSWIRE-31 January 2003-US AIRWAYS: US Airways files for distress termination of pilot defined benefit pension plan and approval of a new pilot defined contribution pension plan; Company commits USD850m over next seven years to fund pilot pensions; New defined contribution plan to adhere to December...
Pittsburgh Post-Gazette Business Briefs Column.
- 2002-08-16
Pittsburgh Post-Gazette Knight Ridder/Tribune Business News Aug. 16--US AIRWAYS' MACHINISTS TO VOTE ON CONCESSIONS: The International Association of Machinists union that represents US Airways' mechanics, baggage handlers and fleet service workers said yesterday that it would ask its members to vote...
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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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Paychex Inc. F2Q10 (Qtr End 11/30/09) Earnings Call Transcript
on Dec 17, 2009about PAYX
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Discover Financial Services F4Q09 (Qtr End 11/30/09) Earnings Call Transcript
on Dec 17, 2009about DFS
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VeriFone Holdings, Inc. F4Q09 (Qtr End 10/31/09) Earnings Call Transcript
on Dec 14, 2009about PAY
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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
Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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