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The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation 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 ...
The Abandoned Plan Search Tool is also on the agency’s website. ... Pension Benefit Guaranty Corp. (PBGC) can help with claiming a pension. You can call for assistance toll-free at 800-400-7242.
The Pension Benefit Guaranty Corp. approved a $23.6 million pension bailout on Oct. 23 for the Midwestern Teamsters Pension Plan, based in Oak Brook, Illinois, which covers 615 participants in the ...
Gordon Hartogensis (born June 17, 1970) is an American businessman, investor, and government official who served as the Director of the Pension Benefit Guaranty Corporation (PBGC) from 2019 to 2024. [1] [2]
PBGC's long-term cost can be expected to be unreasonably higher if it does not terminate the plan. A termination initiated by the PBGC is sometimes called an involuntary termination. The benefits paid by the PBGC after a plan termination may be less than those promised by the employer. See Pension Benefit Guaranty Corporation for details.
And had that scenario happened, the federal Pension Benefit Guaranty Corp. would have needed to step in, likely resulting in massive cuts to retirees' pension checks of as much as 70%.
Pages in category "Pension Benefit Guaranty Corporation" The following 10 pages are in this category, out of 10 total. This list may not reflect recent changes .
The good news is that if your pension fails, there's a backstop provided by the Pension Benefit Guaranty Corporation. ... All told, the PBGC manages payments for around 4,500 plans in total ...