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
pension and pension benefit guaranty corp. - All News and Analysis
Worry About Your Pension, Not Your Pension’s Insurer
BNET
- 2009-05-27
Last week the Pension Benefit Guaranty Corporation, the federal agency that pays your pension if your employer can't, told the Senate Select Committee on Aging that its assets fall $33.5 billion short of its obligations. In other words, the perennially underfunded agency wanted to let everyone know that it wasn't...
New rules put spotlight on pension funding liabilities
- 2008-05-01
Rules proposed by the federal Internal Revenue Service and the Pension Benefit Guaranty Corp. are designed to safeguard multiemployer pension plans.
Create a pension backup plan: the benefits you've earned so far are safe, but future benefits could disappear. Are you prepared?(RETIREMENT INCOME)
- 2007-09-22
[ILLUSTRATION OMITTED] AFTER 22 YEARS WITH FORD MOTOR CO., HANK Neumayer is thankful that he is covered by his company's pension plan and hopes his job--and his benefits--will last for another eight years, when he'll qualify for early retirement. But he's not counting on...
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...
Who killed DB plans? All the usual suspects.(defined benefit plans)
- 2006-12-11
Byline: Douglas A. Love From asset managers to consultants, from plans sponsors to regulators, every major institution and professional practice surrounding defined benefit pension plans unintentionally has been an enabler of their impending demis Byline: Douglas A. Love From asset...
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 reforms welcomed.(Editorial)
- 2006-08-07
As tempting as it might be, we want to avoid generalizations about what the impact of pension funding reform legislation will be on the nation's retirement plan system. Prior predictions about earlier pension reform measures ultimately turned out As tempting as it...
Paying for pensions
- 2006-08-05
Amid all the pre-election, end-of-session congressional debates over military spending, minimum-wage increases and offshore drilling, Congress also dealt with the matter of pension reform. That sounds like a yawner, but this issue is perhaps the most important one Congress will deal with in this and coming sessions. ...
What will pension law do?
- 2006-08-05
WASHINGTON -- A 93-5 Senate vote passes major pension legislation onto President Bush for his expected signature. Young workers, Wall Street, a couple of airlines and U.S. taxpayers could come out as winners in the pension changes. Some older employees, as well as truck drivers and construction workers...
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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VeriFone Holdings, Inc. F4Q09 (Qtr End 10/31/09) Earnings Call Transcript
on Dec 14, 2009about PAY
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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
Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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