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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Pension Benefit Guarantee enters agreement with Western Union Financial
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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
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pension benefit guaranty corp. - All News and Analysis
Pension authority takes over Delphi plans
BNET
- 2009-08-11
The Pension Benefit Guaranty Corp. said Monday it officially assumed responsibility for the pension plans of 70,000 workers and retirees of Delphi Corp., the nation's largest producer of auto parts. The PBGC is now trustee of the plans, but it could be six months or so until some retirees see...
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...
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...
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...
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.
Company Watch - Delta Air Lines
- 2008-03-10
Mar 10, 2008 Delta Air Lines flew 8.47 billion system RPMs in February, a 6.7% increase over the year-ago month. Capacity rose 5.6% to 11.31 billion ASMs and load factor was up 0.8 point to 74.9%. Mar 7, 2008 Delta's international capacity increased from 20% in 2005 to...
Company Watch - Northwest Airlines
- 2008-03-10
Mar 10, 2008 Delta Air Lines and Northwest Airlines pilots have resumed negotiations over how to merge contracts and seniority during a potential merger, according to media reports. It is unclear if pilot leaders have made any progress during the informal meetings. Previous talks ended about two weeks ago....
Delta shareholder wants say in Northwest merger talks
- 2008-03-08
The Pension Benefit Guaranty Corp., Delta Air Lines Inc.'s second- largest shareholder, wants a role in the carrier's merger talks with Northwest Airlines Corp. to safeguard retirement benefits of more than 160,000 workers. The airlines' pensions lack enough assets to pay promised benefits and would be underfunded by...
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...
Pension Benefit Guaranty Corporation Addresses Offline Tape Liability with Index Engines Enterprise eDiscovery Platform
- 2007-12-04
Leading Pension Benefits Company Selects Index Engines to Deliver Rapid Access to Content on 45,000 Offline Tapes to Support Discovery Search Requests
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
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
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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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