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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Time for true pension reform Politico
News & Analysis
Filter by
pension benefit guaranty corp. and pension plan - All News and Analysis
The GM Pension Plan: A $100 Billion Problem Swept Under the Rug
BNET
- 2009-06-08
Five or so years ago, when General Motors was simply financially challenged rather than bankrupt, financial writers joked that GM was in truth a huge pension plan, funded by an automobile operation. It wasn't far off the mark: in 2004, each active worker was outnumbered by 2.5 GM retirees, and...
Keller Enters into a Settlement Agreement with the Pension Benefit Guaranty Corporation in Connection with Termination of Pension Plan
- 2007-12-21
LOUISVILLE, Ky. -- The Keller Manufacturing Company, Inc., an Indiana corporation ("Keller") (Pink Sheets: KMFI), announced today that it has entered into a settlement agreement with the Pension Benefit Guaranty Corporation ("PBGC") in connection with the termination of The Keller Manufacturing Company, Inc. Employees' Pension Plan (the "Plan"). Keller had...
Airlines' pension woes help reforms take off; Financial troubles of one business sector spark rethink for all.(News)
- 2007-07-09
Byline: JERRY GEISEL As the nation's airlines fight battles on many fronts, one huge issue that had been hanging over them-how to fund their enormous pension plan liabilities-is virtually gone. Over the past four years, all of the nation's major Byline:...
News briefs.(Knoxville City Employees' Pension Fund )(Ohio Police & Fire Pension Fund )
- 2007-07-09
Study: more plans look at governance WASHINGTON - Many multinational companies are scrutinizing global investment policies and risk management strategies related to their retirement plans, according to a new Watson Wyatt Worldwide survey. About 78 Study: more plans look at governance ...
At deadline.(pension protection act)
- 2007-02-05
DOL issues advice guidance Money managers offering investment advice to participants in 401k plans they manage can vary the fees they charge for their own investment options, but they must provide the advice through a separate affiliate, whose c DOL issues advice guidance...
At Deadline.(Delta Air Lines retirement plan, U.S pension plans)
- 2007-01-08
PBGC takes over Delta plan Delta Air Lines Pilots Retirement Plan has been taken over by the PBGC, confirmed Gary Pastorius, spokesman for the agency. The PBGC became trustee of the plan and assumes responsibility for the pension benefits of the A PBGC...
PBGC takes over Delta pilots' pension plan
- 2007-01-08
AIRLINE INDUSTRY INFORMATION-C1997-2007 M2 COMMUNICATIONS LTD
At Deadline.(appointments and acquisitions)
- 2006-12-25
Ford pension plan to shrink Ford is expected to use about 15% of its $42 billion in defined benefit assets to pay benefits to employees who opt for lump-sum payments as part of a voluntary buyout the company offered, sources said. ...
CalSTRS staff: Replace principles with UN initiative.(News Briefs)
- 2006-10-30
SACRAMENTO, Calif. - CalSTRS staff proposed scrapping the fund's nearly 30-year-old statement of investment responsibility, replacing it with the United Nations Environment Program financial initiative. Adopting the UNEP principles would put the pens SACRAMENTO, Calif. - CalSTRS staff proposed scrapping the fund's nearly 30-year-old statement...
Tougher pension rules will strengthen the system.(Editorial)(rules for pensions)(Editorial)
- 2006-09-18
IS THE NEW PENSION funding reform law accelerating the demise of defined benefit plans? One could come-erroneously, in our view-to that conclusion from recent events. Since Congress passed the legislation last month, about half a dozen companies, IS THE NEW PENSION funding...
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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Paychex Inc. F2Q10 (Qtr End 11/30/09) Earnings Call Transcript
on Dec 17, 2009about PAYX
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Discover Financial Services F4Q09 (Qtr End 11/30/09) Earnings Call Transcript
on Dec 17, 2009about DFS
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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
Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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