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PBGC premium hikes in federal budget debated

News Item

The federal budget proposal that gives the PBGC new authority to increase premiums on the retirement plans it insures and impose higher premiums on riskier plans raises more questions than it answers, experts say.


PBGC Premium Increase


The Pension Benefit Guaranty Corporation (PBGC) is a federal corporation that insures most defined benefit plans in the United States.  The PBGC is funded solely by premiums paid by plan sponsors.  Currently the PBGC is experiencing deficits due to the large amount of plans which are terminated with insufficient funds to cover all its liabilities.


Federal Pension Insurance Protections


In 1974, Congress created a federal pension insurance program for certain private retirement plans. This program is administered by the Pension Benefit Guaranty Corporation (PBGC). 


Happy Birthday, ERISA!

Blog entry

Thirty-six years ago today the nation’s landmark private pension law, the Employee Retirement Income Security Act of 1974 (ERISA), was signed into law by President Gerald Ford. In honor of the workers who would benefit from the new law, the signing appropriately took place on Labor Day.


A victory for workers and retirees

Blog entry
In December 2009, Visteon Corp. announced that it was going to terminate its pension plans, which cover some 21,000 workers and retirees, as part of the company's overall bankruptcy and reorganization effort.  More...
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