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
pension benefit guaranty corp. and united airlines - All News and Analysis
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 ...
Employee Benefits 2005.(Spotlight: Year in Review--Employee Benefits)
- 2005-12-26
JANUARY * Technology giant EDS Corp. is purchasing Towers Perrin's benefit administration unit for $420 million. As part of the transaction, EDS and Towers Perrin will form a new venture, combining Towers Perrin's benefits administration services and EDS' existing payroll and HR-related outsourcing...
US federal court rejects appeal from United flight attendants
- 2005-11-02
AIRLINE INDUSTRY INFORMATION-C1997-2005 M2 COMMUNICATIONS LTD A three-judge panel in the 7th US Circuit Court of Appeals has rejected an appeal from the flight attendants of United Airlines. The federal court said that it saw no reason to reverse a ruling made by a bankruptcy judge to allow...
Airline CEOs Know Something You Don't
- 2005-10-17
One reason flying can be such a drag is that sinking feeling you get when you start talking to your seatmate and discover that she paid much less for her ticket than you did. The trick, of course, is to have access to the best information. What's true for airline...
PBGC to fight United plan.(News)(Pension Benefit Guaranty Corp)(United Air Lines Inc.)(Brief Article)
- 2005-10-17
The Pension Benefit Guaranty Corp. PBGC vows to fight United Airlines' proposed reorganization plan, claiming it "materially breaches'' the terms of a settlement that gave the agency control of the Elk Grove Township-based airline's underfund The Pension Benefit Guaranty Corp. PBGC vows to fight United...
How Safe Is Your Pension Benefit.
- 2005-08-01
PICTURE THIS: You're a few years into retirement and the monthly pension check you count on for a comfortable lifestyle suddenly gets cut in half. Or maybe retirement is still a few years off and your carefully laid plans rely heavily on the pension you've been ...
Congress responds to pension failure stories.(Benefits Management)
- 2005-07-11
Byline: JERRY GEISEL It is the pension horror stories, like retired United Airlines pilot James V. Allen's, that may finally lead Congress to rewrite pension funding law. When the U.S. Pension Benefit Guaranty Corp. takes over and terminates Un Byline:...
Late News; PBGC takes over more United plans.(Pension Benefit Guaranty Corp)
- 2005-07-04
The Pension Benefit Guaranty Corp. last week took over two more massively underfunded pension plans sponsored by bankrupt United Airlines. The Assn. of Flight Attendants, which is pursuing legal action to try to undo the termination, says the takeove The Pension Benefit Guaranty Corp. last week...
Pension system deserves attention.(Commentary)
- 2005-07-04
Byline: Paul Winston It took a financial disaster for tens of thousands of United Airlines' employees and retirees and for the Pension Benefit Guaranty Corp., but Congress finally is waking up to the need to address serious flaws in the nation's p Byline:...
Pension funding rule overhaul likely
- 2005-07-01
In the years before United Airlines shuttered its retirement plans and transferred a record $6.6 billion in claims to the federal pension agency, the company paid very little into its own plan or into the system that insures benefits. United played by the same funding rules as financially strong...
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 |
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Glass Door
Financial Services Industry Companies
| Company | Employer Rating |
| Wells Fargo |  |
| U.S. Bank |  |
| Bank of America | |
| Wachovia | |
| JPMorgan Chase | |
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