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
-
Blue Wolf Exec to Head U.S. Pension Agency
-
Hayes Lemmerz strikes deal with PBGC, retirees
-
Delphi retirees head to D.C.: Group will have hearing on lost benefits before Senate committee
-
The PBGC strikes again
-
NC's Hanesbrands boosts pension plan guarantees
-
BRIEF-U.S. pension agency reaches $13.8 mln agreement with Hanesbrands
-
Suit filed by ex-Delphi salaried group
-
Pilots Sue to Drop PBGC as US Airways Pension Plan Trustee
-
Time for true pension reform Politico
-
Catapult Technology wins $1.4 million contract from PBGC
News & Analysis
Filter by
insurance and pension benefit guaranty corp. - All News and Analysis
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...
On the Importance of the Plumber: The Intersection of Theory and Practice in Policymaking for Federal Financial Institutions/Commentary
- 2006-07-01
The federal government's role as lender and insurer is very important, with over $1.4 trillion of loans and guarantees and at least $7 trillion of insured risk. Tens of millions of Americans benefit from housing loans, student loans, flood insurance, etc. Yet the federal financial institutions established to run these...
Delta pilot deal faces opposition from US pension insurer
- 2006-05-25
AIRLINE INDUSTRY INFORMATION-C1997-2006 M2 COMMUNICATIONS LTD The deal between Delta Air Lines and its pilots' union has been objected to by the Pension Benefit Guaranty Corp PBGC, the US federal pensions insurer. The organisation reportedly stated that the proposed agreement could lead to a cost of billions of...
Pension funding rule overhaul likely
- 2005-07-01
In the years before United Airlines shuttered its retirement plans and transferred a record $6.6 billion in claims to the federal pension agency, the company paid very little into its own plan or into the system that insures benefits. United played by the same funding rules as financially strong...
Senate gets pension lesson
- 2005-06-08
WASHINGTON -- Sen. Jim Bunning is from a state perhaps best known as home to the horse industry, but Kentucky is also where 8,000 Delta Air Lines employees live, which helps explain why the Republican lawmaker was fuming on Tuesday. Why, he wanted to know, have Delta and...
Opportunity in UAL.(Editorial)
- 2005-05-16
The time has come for Congress to make hard decisions concerning the Pension Benefit Guaranty Corp. The best decision for taxpayers, and, ultimately all employers and employees, would be to freeze the PBGC's obligations at their present level. Tha The time has come...
US reaches pension settlement with United Airlines
- 2005-04-22
CHICAGO AFP — A US government insurance program said it reached a deal to take over pensions of all United Airlines employees after the bankrupt carrier failed to keep up with contributions. The Pension Benefit Guaranty Corporation said the airline's four pension plans, which cover 121,500 employees and retirees,...
Saving Private Pension Insurance: An Evaluation of Current Proposals to Shore Up the PBGC
BNET
- 2005-04-01
PBGC is not a system of private insurance, rather it is in large part a system of social insurance and it has been the approach to date that profitable firms that sponsor DB pensions subsidize firms with weaker prospects. Yet federal sponsorship of this particular social insurance program is unique...
Pension Benefit Guaranty Corporation: Structural Problems Limit Agency's Ability to Protect Itself From Risk
BNET
- 2005-03-02
More than 34 million workers and retirees in about 30,000 single employer defined benefit plans rely on a federal insurance program managed by the Pension Benefit Guaranty Corporation PBGC to protect their pension benefits. In fiscal year 2004, PBGC's single-employer pension insurance program incurred a net loss of $12.1 billion...
Late News; Third Marsh exec pleads guilty in Spitzer probe.(Marsh Inc)
- 2005-02-28
Kathryn Winter, a former broker and managing director at Marsh Inc., last week pleaded guilty to criminal charges related to New York Attorney General Eliot Spitzer's investigation. Ms. Winter admitted that she instructed insurers to submit noncompet Kathryn Winter, a former broker and managing director at...
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
-
Navios Maritime Holdings Inc. Q3 2009 Earnings Call Transcript
on Nov 18, 2009about NM
-
Progressive Corp. Q3 2009 Earnings Call Transcript
on Nov 11, 2009about PGR
-
Nelnet Inc. Q3 2009 Earnings Call Transcript
on Nov 10, 2009about NNI
-
American Apparel Q3 2009 Earnings Call Transcript
on Nov 10, 2009about APP
-
MBIA Inc. Q3 2009 Earnings Call Transcript
on Nov 10, 2009about MBI
Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
IndustryTop Rated
- As Income Mobility Falls, American Dream Fades 7 votes
- Creative Destruction and the new Money Trust 6 votes
- Geithner Deal With Wall Street Over AIG Swaps Cost Taxpayers $13 Billion 4 votes
- Civil Rights Group Teams With Wells Fargo Despite Charges of Predatory Lending 4 votes
- FDIC Chief Sheila Bair to Treasury Brat Geithner: Nyah! 3 votes
