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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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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Pilots Sue to Drop PBGC as US Airways Pension Plan Trustee
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Time for true pension reform Politico
News & Analysis
Filter by
interest rate and pension benefit guaranty corp. - All News and Analysis
Congress approves pension reform bill; Provisions set out funding rules; cash balance plans gain shield.(News)
- 2006-08-07
Byline: JERRY GEISEL WASHINGTON-Sweeping pension reform legislation is on its way to President Bush for his signature. In a 93-5 vote last week, the Senate gave its approval to a measure, H.R. 4, that cleared the House late last month. ...
Washington: Battle over pension funding looms; Rival Republican proposals are headed for a showdown.(News)
- 2005-06-13
Byline: Vineeta Anand WASHINGTON - Key House and Senate Republicans are headed for a showdown over the best way to secure funding for pension plans and avert a taxpayer bailout of the Pension Benefit Guaranty Corp. The PBGC's condition will wors ...
Bush budget proposals seek to shore up PBGC; Would OK pension plan overfunding.(Pension Benefit Guaranty Corp.)
- 2005-02-14
Byline: JERRY GEISEL WASHINGTON-A pension reform package proposed by the Bush administration would help to shore up the financial base of the U.S. Pension Benefit Guaranty Corp., but experts say the package may not do enough to stop or slow the co Byline:...
Pension funding bill clears panel; Senate must reconcile different approaches.(News)
- 2003-11-03
Byline: JERRY GEISEL WASHINGTON-With the deadline for action drawing near, Congress is closer to enacting stopgap pension funding relief that employers are urgently seeking. Last week, the Senate Health, Education, Labor and Pensions Committee Byline: JERRY GEISEL ...
BELTWAY BARGAINING: PBGC bailout clouds benchmark change; Replacing 30-year Treasury bond as funding bellwether could run afoul of politics.(News)
- 2003-02-03
Byline: Vineeta Anand WASHINGTON - The Bush administration's efforts to bail out the Pension Benefit Guaranty Corp. could complicate corporate plan sponsors' campaign to replace the benchmark for calculating liabilities and contributions. With Byline: Vineeta Anand ...
Increase in plan terminations feared; Falling T-bond rates inflate pension liabilities.(U.S. Treasury bond interest rates)(Brief Article)(Statistical Data Included)
- 2001-11-12
WASHINGTON-The plunge in U.S. Treasury bond interest rates may be good for the federal government, but it is wreaking havoc on employers with defined benefit pension plans. Employers next year will have to pump tens of billions of dollars-benefit WASHINGTON-The plunge in...
PRICE TAG TO EXCEED $40 BILLION: 30-year T-bond's demise will cost sponsors dearly; Industry groups sound alarm over feared increases in lump-sum payouts, PBGC premiums, contributions.(Statistical Data Included)
- 2001-11-12
The government's decision to drop the 30-year Treasury bond could end up costing defined benefit plan sponsors as a whole more than $40 billion in required pension contributions, higher PBGC premiums and larger-than-expected lump-sum payouts. In f The government's decision to drop the...
Liabilities rise for underfunded plans.
- 1996-12-16
WASHINGTON - Lower interest rate assumptions are sharply boosting pension liabilities of the nation's 50 largest underfunded pension plans. The 50 plans' unfunded guaranteed benefits - those the Pension Benefit Guaranty Corp. would have to pay particiWASHINGTON - Lower interest rate assumptions are sharply boosting ...
Why is our pension plan underfunded?(Ask a Benefit Actuary)
- 1996-05-06
ASK A BENEFIT ACTUARY Differing interest rates can result in 'underfunding' in corporate pension plans Q Why is our pension plan underfunded? A This question comes from a chief financial officer who just learned that the Pension Benefit Guaranty CorpASK A BENEFIT ACTUARY Differing...
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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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