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
marketing and pension benefit guaranty corp. - All News and Analysis
Pension agency downplays risks, GAO says
- 2008-08-18
WASHINGTON -- The federal agency charged with backstopping pension benefits for 44 million Americans has understated the risks of its new investment policy, a congressional watchdog said. The Government Accountability Office said in a report released today that the Pension Benefit Guaranty Corp.'s new strategy could significantly boost...
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...
Bogged down
- 2006-11-17
Confusing court rulings create a chaotic regulatory environment. And the Roberts court is already generating plenty of both. The U.S. Supreme Court's less-than-decisive ruling earlier this year in a critical clean-water case, which tested whether the regulatory reach of federal agencies extends to virtually every wet or soggy spot in...
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...
Higher employer pension fees signed into law
- 2006-04-01
President Bush has signed into law a measure that increases the annual fees that employers must pay to the financially strapped Pension Benefit Guaranty Corp. PBGC from the current rate of $19 per plan participant to $30. The measure was included in a deficit reduction package that was signed...
Shouldering the load
- 2005-11-28
With the holiday season upon us, many people think about hopping on a plane to visit friends and relatives. But travelers who follow the news might have some concerns about the financial viability of the airline they've chosen for their travel, as troubled carriers seem to be a regular feature...
Legislation stalls on sustaining company-based pension plans
- 2005-10-24
WASHINGTON -- Nearly everyone -- business, labor, Republicans, Democrats -- agrees that something must be done to sustain company- based pension plans and make sure that the federal agency insuring them doesn't become a financial basket case. Getting Congress to agree on legislation is another matter. ...
Financial Audit: The Pension Benefit Guaranty Corporation's Fiscal Year 2004 Management Representation Letter on Its Financial Statements
BNET
- 2005-07-22
This document depicts about a report the purpose of which is to communicate the observations on the Pension Benefit Guaranty Corporation's PBGC fiscal year 2004 management representation letter. Its objective is to help ensure that future management representation letters submitted by PBGC are sufficient to help support Treasury and OMB's...
Editorials.(News)(Editorial)
- 2005-06-09
Tighter pension rules are needed United Airlines raised eyebrows across the country and tensions within its work force when it won a bankruptcy judge's permission last month to walk away from $9.8 billion worth of contributions to its pension fund. Close...
Federal pension benefits insurer says its deficit more than doubled.
- 2004-11-16
By Tami Luhby, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News Nov. 16--Straining under the looming pension crisis in the airline industry, the federal pension benefits insurer yesterday reported that its deficit more than doubled from a year earlier. The...
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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
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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