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
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Catapult Technology wins $1.4 million contract from PBGC
News & Analysis
Filter by
pension benefit guaranty corp. and ual corp. - All News and Analysis
News Briefs: PBGC discloses 23.4% ownership stake in UAL Corp.(Pension Benefit Guaranty Corporation)
- 2006-02-20
WASHINGTON - The PBGC holds a 23.4% stake in UAL Corp., the corporate parent of United Airlines, confirmed PBGC spokesman Gary Pastorius. According to a Schedule 13D filed Feb. 2 with the Securities and Exchange Commission, the pension agency owned 1 WASHINGTON - The PBGC holds...
At Deadline; PBGC sells some UAL shares.(Late News)(Pension Benefit Guaranty Corp)(Nissan North America freezes new defined benefit plan )(Operating Engineers Pension Trust hires Rainier Investment )
- 2006-02-06
The PBGC sold roughly $2.5 billion of shares it holds in UAL Corp., parent of United Airlines, said Jeffrey Speicher, PBGC spokesman. "Total sale proceeds amounted to about $450 million, or 18 cents on the dollar .... About 30% of the recovery The PBGC...
UAL, PBGC make peace over disclosure wording.(News Briefs)(Pension Benefit Guaranty Corp.)(Brief Article)
- 2005-10-31
CHICAGO - UAL Corp. resolving objections by the PBGC and several other creditors over wording in the company's Chapter 11 bankruptcy reorganization disclosure statement. Judge Eugene R. Wedoff of the U.S. Bankruptcy Court in Chicago on Oct. 21 aut CHICAGO - UAL Corp....
House seeks to bar PBGC takeover of UAL's plans.(News)(Pension Benefit Guaranty Corporation)(United Airlines)(Brief Article)
- 2005-06-27
WASHINGTON - The U.S. House of Representatives on June 24 approved an amendment submitted by Rep. George Miller, D-Calif., to a spending bill that could prohibit the PBGC from spending the money necessary to take over the pension plans of United Airl WASHINGTON - The U.S....
Pension funds: UAL, unions still at odds over termination plans; Flight attendants, machinists seek appeals to thwart airline's agreement with PBGC.(News)
- 2005-05-30
Byline: Nicholas Braude CHICAGO - UAL Corp.'s United Airlines continues to face intense opposition from labor groups and legislators in the weeks following bankruptcy court approval of a deal that allows the carrier to unload its pension plans ont Byline: Nicholas Braude ...
Opportunity in UAL.(Editorial)
- 2005-05-16
The time has come for Congress to make hard decisions concerning the Pension Benefit Guaranty Corp. The best decision for taxpayers, and, ultimately all employers and employees, would be to freeze the PBGC's obligations at their present level. Tha The time has come...
Mayday, mayday
- 2005-05-13
We can empathize to some degree with United Airlines employees, retired or still on the job, who could see their retirement benefits reduced following a judge's decision this week to hand off $6.6 billion of the company's pension obligations to the Pension Benefit Guaranty Corp, a federal agency. But we...
Money managers looking at new ways of setting compensation.(Briefs)(Alliance Capital Management L.P. and Enron Corp.)(PBGC and UAL Corp.)(Koninklijke Philips Electronics N.V. and Merrill Lynch Investment Managers)
- 2005-05-02
NEW YORK - Money management firms surveyed by Sextant Search Partners and the Investment Advisor Association are considering new ways of measuring portfolio managers' performance and setting compensation packages. The 68 U.S. firms that participat NEW YORK - Money management firms surveyed by...
US panel agrees to take over UAL pilots' pension plan
- 2004-12-30
WASHINGTON AFP — The US agency that insures corporate pension funds said it had reluctantly agreed to assume responsibility for bankrupt United Airlines' underfunded pilots' pension plan. The decision means the agency will be liable for 1.4 billion dollars in unfunded benefits, making this the third-largest claim in the...
A domino effect? Airline industry ponders UAL move; Will other carriers change their pension plans, as Delta may, to stay competitive?(News)(UAL Corp.)
- 2004-08-09
Byline: Joel Chernoff and Nicholas Braude UAL Corp.'s decision to stop contributing cash to United Airlines' severely underfunded pension plans might sound the death knell for the carrier's defined benefit plans, according to industry observers. Byline: Joel Chernoff and Nicholas Braude...
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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
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