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The government-wide average was 344 days. United States. The Pension Benefit Guaranty Corporation insures and guarantees private sector workers' pensions. Are you an employer or practitioner responsible for the administration of a pension plan? Here is the strategic goals and results of the 153- … Read more about PBGC’s annual operations and current financial conditions. You can also find an unclaimed pension by using the Unclaimed Pension Search. In this case we must determine whether the decision of the Pension Benefit Guaranty Corporation (PBGC) to restore certain pension plans under § 4047 of the Employee Retirement Income Security Act of 1974 (ERISA), 88 Stat. Pension Benefit Guaranty Corporation Office of Inspector General Audit Report. 1 As the PBGC's Executive Director explained: [475 U.S. 211, 216] "A key problem of ongoing multiemployer plans, especially in declining industries, is the problem of employer withdrawal. PBGC expended a total of $56,980 for 16 complaint investigations, for an average expenditure of $3,561. Pension Benefit Guaranty Corporation issued the following report, dated December 9, 2020, entitled Fiscal Year 2020 Annual Report. Find out more about this article. A lock ( November 15, 2013 AUD-2014-4 / FA-13-93-3 . WASHINGTON, D.C. - The Pension Benefit Guaranty Corporation (PBGC) today announced it has reached a settlement agreement with the Food Employers Labor Relations Association (FELRA), the United Food and Commercial Workers union (UFCW), and the FELRA/UFCW Pen. An eligible Pension Benefit Guaranty Corporation payee; The family member of an eligible TAA, ATAA, or RTAA recipient or PBGC pension payee who is Medicare eligible, deceased, or who finalized a divorce with you. If you recently received a letter telling you that PBGC is now responsible for paying your pension benefit, this page is your gateway to PBGC. Pension Benefit Guaranty Corporation PBGC Missing Participant Payments Description: Form used to submit payments for missing participants with the associated admin Subject to other statutory limitations, PBGC's single-employer insurance program pay… Beneficiaries / Report Death of a Participant, Qualified Domestic Relations Orders and PBGC, State Life and Health Insurance Guaranty Association Offices, Missing Participants (Standard/Distress Terminations only), Federal Register Notices Open for Comment, ERISA Section 4044 Retirement Assumptions, Reportable Events & Large Unpaid Contributions, Annual Performance & Financial Report 2020, Coronavirus (COVID-19) Information and Resources, PBGC Reaches Settlement to Help Protect Troubled Multiemployer Insurance Program, PBGC Director Hartogensis Welcomes Audit Report on Procurement Practices. The Pension Benefit Guaranty Corporation (PBGC) has a distinguished and important mission in protecting America’s pensions. Inauguration of the President of the United States. The Pension Benefit Guaranty Corporation (PBGC) administers two insurance programs for private-sector defined benefit pension plans under title IV of the Employee Retirement Start Printed Page 1257 Income Security Act of 1974 (ERISA): A single-employer plan termination insurance program and a multiemployer plan insolvency insurance program. The Pension Benefit Guaranty Corporation (PBGC) has approved the merger of two multiemployer pension plans in a move to protect the retirement of approximately 50,000 Washington, D.C.-area grocery and warehouse workers and limit the financial burden on the agency’s multiemployer pension insurance program. This index provides descriptive entries and Federal Register page numbers for documents published by Pension Benefit Guaranty Corporation in the daily Federal Register. Pension Benefit Guaranty Corporation, Multiemployer Study Required by P. L. 95-214, pp. A .gov website belongs to an official government organization in the United States. 1. The Pension Benefit Guaranty Corporation insures and guarantees private sector workers' pensions. Elections, Presidents, Vice Presidents, and First Ladies, Financial Assistance and Support Services, Disaster Financial Assistance for Workers and Small Business Owners, Disaster Financial Assistance with Food, Housing, and Bills, Financial Assistance Within Designated Natural Disaster Areas, Government Response to Coronavirus, COVID-19, Financial Help for Families and Child Support. Congress created it with the Employee Retirement Income Security Act of 1974. Pension Benefit Guarantee Corporation (PBGC) is a wholly owned United States Government Corporation, modeled after the Federal Deposit Insurance Corporation. The solution: The Pension Benefit Guaranty Corporation (PBGC), which was founded in 1974 and protects retirees if a pension plan becomes insolvent. 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