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
delta and pension benefit guaranty corp. - All News and Analysis
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, 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...
Delta's motion for approval of pilot pension plan termination granted
- 2006-09-06
AIRLINE INDUSTRY INFORMATION-C1997-2006 M2 COMMUNICATIONS LTD Delta Air Lines (Other OTC: DALRQ) has announced that its motion seeking bankruptcy court approval to terminate its pilots' defined benefit pension plan has been granted by Judge Adlai Hardin. Delta must secure approval from federal pension agency the Pension Benefit Guaranty...
Airlines put pressure on Senate over pension bill
- 2006-08-03
Four big airlines with ailing employee pension plans continue to exert powerful political pressure on the U.S. Senate as it considers legislation to reform the nation's retirement system. As a result, enactment of a sweeping reform bill months in the making depends to a great extent on the outcome...
Delta seeks to terminate pensions
- 2006-06-17
ATLANTA -- Delta Air Lines Inc. will file a request Monday to terminate its pilots' pension plan, the company's chief executive said Friday. But the nation's third-largest carrier still holds out hope pension reform will save other employees' retirement plans. In a letter to U.S. Sen. Johnny Isakson...
Delta's underfunded plans may land on PBGC.(News)(Delta Air Lines Inc.)(Pension Benefit Guaranty Corporation )
- 2005-09-19
Byline: JERRY GEISEL WASHINGTON-Even if Congress approves legislation giving commercial airlines pension funding relief, Delta Air Lines Inc. may terminate its pension plans, resulting in a multibillion dollar loss that could be the biggest ever f Byline: JERRY GEISEL WASHINGTON-Even...
Delta CEO Gerald Grinstein calls for practical, affordable approach to airline pension funding crisis; CEO says airlines are at a crossroad; urges Senate to act.
- 2005-06-08
M2 PRESSWIRE-8 June 2005-Delta-Air: Delta CEO Gerald Grinstein calls for practical, affordable approach to airline pension funding crisis; CEO says airlines are at a crossroad; urges Senate to actC1994-2005 M2 COMMUNICATIONS LTD RDATE:07062005 WASHINGTON, D.C. - Delta Air Lines (DAL: NYSE)...
At Deadline.(Late News)(includes, Pennsylvania Public School Employees' Retirement System and Pennsylvania State Employees' Retirement System face audits)
- 2002-11-25
PBGC taking over fund The PBGC is attempting to take over the underfunded pension plan of a former Global Crossing unit sold to Citizens Communications last year. The pension plan has assets of $473 million and liabilities of $578 million, accordi PBGC taking...
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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
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Progressive Corp. Q3 2009 Earnings Call Transcript
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Nelnet Inc. Q3 2009 Earnings Call Transcript
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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
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| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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