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
benefits and pension benefit guaranty corp. - All News and Analysis
The GM Pension Plan: A $100 Billion Problem Swept Under the Rug
BNET
- 2009-06-08
Five or so years ago, when General Motors was simply financially challenged rather than bankrupt, financial writers joked that GM was in truth a huge pension plan, funded by an automobile operation. It wasn't far off the mark: in 2004, each active worker was outnumbered by 2.5 GM retirees, and...
Worry About Your Pension, Not Your Pension’s Insurer
BNET
- 2009-05-27
Last week the Pension Benefit Guaranty Corporation, the federal agency that pays your pension if your employer can't, told the Senate Select Committee on Aging that its assets fall $33.5 billion short of its obligations. In other words, the perennially underfunded agency wanted to let everyone know that it wasn't...
New rules put spotlight on pension funding liabilities
- 2008-05-01
Rules proposed by the federal Internal Revenue Service and the Pension Benefit Guaranty Corp. are designed to safeguard multiemployer pension plans.
Create a pension backup plan: the benefits you've earned so far are safe, but future benefits could disappear. Are you prepared?(RETIREMENT INCOME)
- 2007-09-22
[ILLUSTRATION OMITTED] AFTER 22 YEARS WITH FORD MOTOR CO., HANK Neumayer is thankful that he is covered by his company's pension plan and hopes his job--and his benefits--will last for another eight years, when he'll qualify for early retirement. But he's not counting on...
Delta, PBGC reach agreement on Delta Pilots Pension Plan.
- 2007-01-08
M2 PRESSWIRE-8 January 2007-Delta-Air: Delta, PBGC reach agreement on Delta Pilots Pension PlanC1994-2007 M2 COMMUNICATIONS LTD RDATE:05012007 ATLANTA - Delta Air Lines today confirmed that the Pension Benefit Guaranty Corporation PBGC, the federal agency charged with insuring the nation's pension plans...
Delta's pension plan for pilots is jettisoned
- 2007-01-06
Delta Air Lines Inc.'s retirement plan for 13,000 active and former pilots, underfunded by $3 billion, was taken over by the U.S. agency that insures employee pensions, allowing the airline to exit bankruptcy. Delta, which operates a hub at Salt Lake City International Airport, plans to end court...
Delta receives final approval to terminate pilots' pension plan
- 2006-12-21
AIRLINE INDUSTRY INFORMATION-C1997-2006 M2 COMMUNICATIONS LTD The Pension Benefit Guaranty Corp, the US government's pension insurer, has given its final approval to Delta Air Lines (Other OTC: DALRQ) to terminate the pensions of its pilots. The move is seen as an important step for the carrier to resolve...
Delta deal will end pilots' pensions
- 2006-12-05
Delta Air Lines Inc., the largest U.S. carrier in bankruptcy, reached an agreement with the Pension Benefit Guaranty Corp. that will let the airline end its pilots' retirement plan. Under the settlement, the PBGC would receive a $2.2 billion claim against Delta and $225 million in senior unsecured...
Delta, PBGC reach agreement on Delta Pilot Pension Plan.
- 2006-12-05
M2 PRESSWIRE-5 December 2006-Delta-Air: Delta, PBGC reach agreement on Delta Pilot Pension PlanC1994-2006 M2 COMMUNICATIONS LTD RDATE:04122006 ATLANTA - Delta Air Lines today announced that it has reached a comprehensive settlement agreement that will resolve all issues in connection with the...
The Pension Protection Act of 2006 - a comprehensive reform package.
- 2006-11-01
EXECUTIVE SUMMARY * The PPA '06 makes many changes that will facilitate certain plan designs and affect how plans operate. * The PPA '06 makes permanent more than three dozen EGTRRA rules affecting IRAs and retirement plans. * Several...
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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