Pension Benefit Guaranty Corporation (PBGC): A Fact Sheet

Description:

The Pension Benefit Guaranty Corporation (PBGC) is a federal government agency established in 1974 by the Employee Retirement Income Security Act (ERISA; P.L. 93-406). It was created to protect the pensions of participants and beneficiaries covered by private sector, defined benefit (DB) plans. The PBGC is chaired by the Secretary of Labor, with the Secretaries of the Treasury and Commerce serving as board members. In the 112th Congress, an amendment offered by Senate Majority Leader Harry Reid to S. 1813, Moving Ahead for Progress in the 21st Century (MAP-21), contains provisions that would address the use of excess defined benefit pension plan assets and the interest rates that defined benefit plans use to value plan liabilities.

Creator(s): Topoleski, John J.
Location(s): United States
Creation Date: April 16, 2012
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Creator (Author):
Topoleski, John J.

Analyst in Income Security

Publisher Info:
Place of Publication: Washington D.C.
Date(s):
  • Creation: April 16, 2012
Coverage:
Place
United States
Description:

The Pension Benefit Guaranty Corporation (PBGC) is a federal government agency established in 1974 by the Employee Retirement Income Security Act (ERISA; P.L. 93-406). It was created to protect the pensions of participants and beneficiaries covered by private sector, defined benefit (DB) plans. The PBGC is chaired by the Secretary of Labor, with the Secretaries of the Treasury and Commerce serving as board members. In the 112th Congress, an amendment offered by Senate Majority Leader Harry Reid to S. 1813, Moving Ahead for Progress in the 21st Century (MAP-21), contains provisions that would address the use of excess defined benefit pension plan assets and the interest rates that defined benefit plans use to value plan liabilities.

Physical Description:

10 pages.

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Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text