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 Pension Benefit Guaranty Corporation

The Pension Benefit Guaranty Corporation (PBGC) is an independent agency of the United States government that was created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary to carry out its operations. Subject to other statutory limitations, the PBGC insurance program pays pension benefits up to the maximum guaranteed benefit set by law to participants who retire at age 65 ($54,000 a year as of 2011). The benefits payable to insured retirees who start their benefits at ages other than 65, or who elect survivor coverage, are adjusted to be equivalent in value.


During fiscal year 2010, the PBGC paid $5.6 billion in benefits to participants of failed pension plans. That year, 147 pension plans failed, and the PBGC's deficit increased 4.5 percent to $23 billion. The PBGC has a total of $102.5 billion in obligations and $79.5 billion in assets.

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The Pension Practice Council of the American Academy of Actuaries has released a new issue brief that guides multiemployer plans, regulators, and policy makers in honoring the Pension Benefit Guaranty Corporation's (PBGC)'s policy of guaranteed ...
The Pension Benefit Guaranty Corporation has projected that based on current premium levels, its multiemployer assets have a 50 percent chance of being exhausted by 2025, and a 98 percent chance of being tapped by 2035.

... concern over that lag, given the implications of longevity projections of sponsors' contribution requirements, the cost of lump-sum pension payouts, and improved longevity's impact on variable premium rates to the Pension Benefit Guaranty Corporation.
The Pension Benefit Guaranty Corporation (PBGC) has updated its website with new premium rates for defined benefit (DB) plans for 2017.
The Pension Benefit Guaranty Corporation (PBGC) on Oct. 11 announced that $150 million more will be provided to Alcoa's two largest pension plans under an agreement it has reached with the company.

Western Pennsylvania coal miners and labor leaders participate in a round table discussion with county and state officials on Tuesday, Oct. 18, 2016, at IBEW Local Union #5 after US Senator Bob Casey called the discussion to highlight those stories of ...
The Pension Benefit Guaranty Corporation (PBGC) insures corporate pension plans and makes payment to retired employees of bankrupt companies.
The Pension Benefit Guaranty Corporation (PBGC) is reducing penalties for late payment of premiums, in an effort to reduce regulatory costs and make it easier for plan sponsors to maintain traditional pension plans.
Meanwhile, the Pension Benefit Guaranty Corporation (PBGC), the government-mandated insurance fund that steps in when multiemployer pension plans fail, claims to need $15 billion in funding over the next ten years.
Senator Mike Enzi, R-Wyoming, has introduced S.3240, described as a bill to prohibit the use of premiums paid to the Pension Benefit Guaranty Corporation (PBGC) as an offset for other federal spending. Pension insurance premiums that are paid by ...
Some blame the rising premiums that must be paid to the Pension Benefit Guaranty Corporation for the moves plans are making with their defined benefit plans.
For example, employers generally come into the process with two fundamental motivations: They want to address longevity and investment risk, and they want to act before increasing Pension Benefit Guaranty Corporation (PBGC) premiums adds even more ...
The agreement with the Pension Benefit Guaranty Corporation to make the payments, announced Oct. 11, was arranged under the agency's Early Warning Program.
The Pension Benefit Guaranty Corporation has approved management's plan to separate the Alcoa Inc. pension plans between the future Arconic Inc. and Alcoa corporation.

The Pension Benefit Guaranty Corporation (PBGC) has updated its website with new premium rates for defined benefit (DB) plans for 2017.
The Pension Benefit Guaranty Corporation (PBGC) on Oct. 11 announced that $150 million more will be provided to Alcoa's two largest pension plans under an agreement it has reached with the company.
Western Pennsylvania coal miners and labor leaders participate in a round table discussion with county and state officials on Tuesday, Oct. 18, 2016, at IBEW Local Union #5 after US Senator Bob Casey called the discussion to highlight those stories of ...
The Pension Benefit Guaranty Corporation (PBGC) insures corporate pension plans and makes payment to retired employees of bankrupt companies.
The Pension Benefit Guaranty Corporation (PBGC) is reducing penalties for late payment of premiums, in an effort to reduce regulatory costs and make it easier for plan sponsors to maintain traditional pension plans.
Meanwhile, the Pension Benefit Guaranty Corporation (PBGC), the government-mandated insurance fund that steps in when multiemployer pension plans fail, claims to need $15 billion in funding over the next ten years.
Meanwhile, the Pension Benefit Guaranty Corporation (PBGC), the government-mandated insurance fund that steps in when multiemployer pension plans fail, claims to need $15 billion in funding over the next ten years.
Senator Mike Enzi, R-Wyoming, has introduced S.3240, described as a bill to prohibit the use of premiums paid to the Pension Benefit Guaranty Corporation (PBGC) as an offset for other federal spending. Pension insurance premiums that are paid by ...
The Pension Benefit Guaranty Corporation (PBGC) on Oct. 11 announced that it will provide $150 million more to Alcoa's two largest pension plans.
Some blame the rising premiums that must be paid to the Pension Benefit Guaranty Corporation for the moves plans are making with their defined benefit plans.
For example, employers generally come into the process with two fundamental motivations: They want to address longevity and investment risk, and they want to act before increasing Pension Benefit Guaranty Corporation (PBGC) premiums adds even more ...
The agreement with the Pension Benefit Guaranty Corporation to make the payments, announced Oct. 11, was arranged under the agency's Early Warning Program.
The Pension Benefit Guaranty Corporation has approved management's plan to separate the Alcoa Inc. pension plans between the future Arconic Inc. and Alcoa corporation.
He explained that benefits can't be cut below 110 percent of the minimum Pension Benefit Guaranty Corporation guaranteed payment.
Meanwhile, the Pension Benefit Guaranty Corporation (PBGC), the government-mandated insurance fund that steps in when multiemployer pension plans fail, claims to need $15 billion in funding over the next ten years.
Meanwhile, the Pension Benefit Guaranty Corporation (PBGC), the government-mandated insurance fund that steps in when multiemployer pension plans fail, claims to need $15 billion in funding over the next ten years.
Meanwhile, the Pension Benefit Guaranty Corporation (PBGC), the government-mandated insurance fund that steps in when multiemployer pension plans fail, claims to need $15 billion in funding over the next ten years.
(AP) - Hancock Fabrics has filed a motion with the U.S. Bankruptcy of Delaware, asking it to approve an agreement in which the Pension Benefit Guaranty Corporation takes over its under-funded pension plan. Hancock, which filed for Chapter 11 ...
The Pension Benefit Guaranty Corporation (PBGC) is proposing to expand its existing Missing Participants Program to cover terminated 401(k) plans and most other defined contribution plans, as well as certain defined benefit plans that aren't currently ...
... employee benefit plans, and represents clients before the Internal Revenue Service, the Department of Labor, and the Pension Benefit Guaranty Corporation under the agencies' remedial correction programs and within the context of agency-initiated ...
On July 21, 2016, the Department of Labor (DOL), the IRS and the Pension Benefit Guaranty Corporation (PBGC) proposed significant revisions to the Form 5500 and related schedules intended to modernize the form, improve the transparency and ...
Pension Benefit Guaranty Corporation spokesman Mark Hopkins told the Northeast Mississippi Daily Journal that the corporation guarantees private defined-benefit pensions much like the FDIC insures money deposited in banks up to a certain amount.
A retiree who worked 30 years would then receive a maximum of $12,870 per year from the federal Pension Benefit Guaranty Corporation (PBGC) versus $24,250." Now the unions representing the coal workers want taxpayers to underwrite these pensions.
(AP) - Hancock Fabrics has filed a motion with the U.S. Bankruptcy of Delaware, asking it to approve an agreement in which the Pension Benefit Guaranty Corporation takes over its under-funded pension plan. Hancock, which filed for Chapter 11 ...
The Pension Benefit Guaranty Corporation (PBGC) is proposing to expand its existing Missing Participants Program to cover terminated 401(k) plans and most other defined contribution plans, as well as certain defined benefit plans that aren't currently ...
TUPELO - Hancock Fabrics has filed a motion with the U.S. Bankruptcy of Delaware, asking it to approve an agreement in which the Pension Benefit Guaranty Corporation takes over its under-funded pension plan. Hancock, which filed for Chapter 11 ...
In 2003, the airline was one of the first major carriers to rid itself of pilots' pensions in the interests of cutting costs, releasing the pension fund to the federal Pension Benefit Guaranty Corporation [PBGC], a move that inevitably results in a ...
In fact, U.S. union pensions are underfunded by $600B, according to the Pension Benefit Guaranty Corporation. So the coal miners are in good company; and that poses another problem.
Pensions, on the other hand, are guaranteed by the Pension Benefit Guaranty Corporation in case of plan failure, ensuring that you will get a significant pension no matter what happens.
"The Department, the Internal Revenue Service and the Pension Benefit Guaranty Corporation published a Notice of Proposed Revision of Annual Information Return/Reports in the Federal Register on July 21, 2016," according to the DOL.
... establish Pension Benefit Guaranty Corporation (PBGC) premiums for Cooperative and Small Employer Charity (CSEC) pension plans; change the after-death required minimum distribution rules applicable to defined contribution (DC) plans and IRAs; ...
... plan that consists of a retirement income account; establish Pension Benefit Guaranty Corporation (PBGC) premiums for Cooperative and Small Employer Charity (CSEC) pension plans; change the after-death required minimum distribution rules applicable ...
They wouldn't, however, participate in the Pension Benefit Guaranty Corporation's insurance system. The PBGC, which itself is heading toward insolvency, collects premium payments from plan sponsors and, in return, provides a backstop for retirees when ...


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