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
litigation and pension benefit guaranty corp. - All News and Analysis
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...
Retired pilots lose pension dispute Appeals court sides with United, active pilots.(Business)
- 2006-10-27
Byline: Melanie G. Rogers Medill News Service On the eve of still another United Airlines bankruptcy hearing, the company won an important pension plan dispute in the 7th Circuit Court of Appeals in Chicago. "We're pleased with the ruling," United spokesman ...
Pension hearing near for Delta
- 2006-08-31
ATLANTA -- Delta Air Lines Inc. is defending itself against objections filed by retired pilots to the company's request in bankruptcy court to terminate its pilot pension plan. A hearing on the Atlanta-based company's motion is scheduled for Friday. Delta, which operates a hub at Salt Lake City...
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 files pensions notice
- 2006-06-21
ATLANTA -- The government's pension insurer said Tuesday it has received Delta Air Lines Inc.'s notice of its intention to terminate its pilots' pension plan. The nation's third-largest carrier filed the notice by overnight mail, and it was received by the Pension Benefit Guaranty Corp. on Tuesday. ...
Delta pilot pensions not all lost
- 2006-06-20
ATLANTA -- Delta Air Lines Inc.'s termination of its pilots' pension plan will sting -- no more lump sum payments -- but won't be a total loss for the 6,000 pilots at the nation's third-largest carrier. The Pension Benefit Guaranty Corp., which would take over the plan once...
Delta deal in trouble
- 2006-05-27
ATLANTA -- Delta Air Lines Inc.'s quest for another round of wage cuts from its pilots has hit some turbulence in an unlikely place -- the bankruptcy court. The court is often a friend to the debtor, helping it wipe away obligations and restructure leases. But the court...
Fence Post.(News)(Letter to the Editor)
- 2006-02-05
Haves are having it better all the time United Airlines has come out from under three years of Chapter 11 bankruptcy and is going to award its CEO and his top 399 managers with 8 percent of the new UAL stock. This will probably amount...
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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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
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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
Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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