PBGC cuts no slack for underfunded plans

Article Abstract:

Pension Benefit Guaranty Corp.'s (PBGC) executive director Martin Slate says that his agency intends to monitor companies with underfunded pension plans of $5 million to $25 million. He claims that there are about 500 such plans affecting nearly 1.5 million people. Slate also says that the PBCG will help companies protect their pension plans during restructuring as well as intensify its monitoring of pension plan mergers and spin-offs.

Public Finance Activities, Pension Benefit Guaranty Corp, Officials and employees, Interview, Slate, Martin

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PBGC: participant notices for underfunded plans

Article Abstract:

The Pension Benefit Guaranty Corp. (PBGC) began surveying firms in Mar. 1996 to determine their compliance with the Retirement Protection Act of 1994. The law requires firms with pension plans that are less than 90% funded to inform workers and retirees about the funding level of their pensions and the guarantees provided by the PBGC. Firms that fail to comply with the law could be fined by the PBGC.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Pension & Benefit Regulation, Laws, regulations and rules, Pensions

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PBGC honored: Early Warning Program recovers billions of pension dollars for participants

Article Abstract:

The Pension Benefit Guaranty Corp. has prevented itself from becoming the next savings and loan debacle and is now on its way to solvency. By implementing the Early Warning Program, the agency has been successful in preventing losses even before they occur. This new approach was given the 'Innovations in Government' award by Harvard's Kennedy School of Government.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Management, Insurance industry, Achievements and awards, Government insurance

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