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
insurance company and pension benefit guaranty corp. - All News and Analysis
Late News; PBGC takes over second United plan.
- 2005-03-14
The Pension Benefit Guaranty Corp. on Friday moved to terminate a United Airlines plan covering more than 36,000 active and retired ground employees, saddling the agency with one of its biggest losses. The plan has $1.2 billion in assets and $4.1 bil The Pension Benefit Guaranty...
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...
Late News; Bush signs class action reform measure.(George Bush W.)
- 2005-02-21
The House of Representatives last week passed, and President Bush signed, the Class Action Fairness Act. Among other things, the act permits the removal of certain class actions involving defendants and plaintiffs from multiple states to federal cour The House of Representatives last week passed, and...
Comings & Goings.(News)(insurance industry appointments, briefs)
- 2005-01-24
Insurers: Michael Canter has been named to the new position of president of New York-based ACE Principal Finance, a unit of ACE Ltd. that underwrites credit risk. Previously, Mr. Canter was executive vp and managing director at ACE Financial Solut Insurers: ...
Late News; US Airways gets OK to dump pension plans.(US Airways Group Inc.)
- 2005-01-10
Financially ailing US Airways Group Inc. can terminate three massively underfunded pension plans covering union-represented employees, a federal bankruptcy judge ruled last week. The three plans are underfunded by about $2.4 billion, nearly all of wh Financially ailing US Airways Group Inc. can terminate three ...
Late News; GAO places PBGC on `high risk' list.
- 2003-07-28
The General Accounting Office has again placed the government's pension insurance program on its "high risk'' watch list of agencies and programs that need congressional action. The Pension Benefit Guaranty Corp.'s single-employer insurance pro The General Accounting Office has again placed the government's pension...
Late News.(U.S. property/casualty reinsurers reported 96.4% combined ratio for first quarter of 2003; notes other news)
- 2003-06-09
Reinsurers report lower losses, higher profits U.S. property/casualty reinsurers reported a 96.4% combined ratio for the first quarter of 2003, compared with 101.8% reported by a similar group for the comparable period a year ago, according to the Reinsurers report lower losses, higher...
Late News.(brief items)
- 2003-03-10
PBGC to take over WHX pension plan The Pension Benefit Guaranty Corp. said it would terminate a plan sponsored by New York-based WHX Corp. The plan covers employees and retirees of two subsidiaries-bankrupt steel manufacturer Wheeling Pittsburgh S PBGC to take over WHX...
For The Record.(Briefs; various news items)
- 2003-01-20
Denny's liable for comp claim after buying cover Denny's Inc. placed itself in the position of a private insurer, making it entirely liable for a workers compensation claim that continued after the company stopped self-insuring, a California appeal Denny's liable for comp claim after...
Late News.(briefs include cost of recent tornadoes/thunderstorms, proposed cash balance pension plan regulation and Mattel Inc. shareholder lawsuit)
- 2002-12-09
Government approves cash balance pay credits Cash balance pension plans that provide the same pay-related credits to all participants do not violate federal age discrimination laws, according to proposed Treasury Department and Internal Revenue Se Government approves cash balance pay credits ...
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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
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
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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 | |
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