Pension Benefit Guaranty Corporation

E5707

The Pension Benefit Guaranty Corporation is a U.S. federal agency that insures and protects the pension benefits of workers in private-sector defined benefit plans when their employers’ plans fail.

All labels observed (4)

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf U.S. federal government agency
government corporation
abbreviation PBGC
appliesTo private-sector defined benefit pension plans
boardMember United States Secretary of Commerce
United States Secretary of Labor
United States Secretary of the Treasury
boardOfDirectorsChair United States Secretary of Labor
country United States
doesNotCover defined contribution plans
government pension plans
employerTypeCovered certain not-for-profit employers
private-sector employers
foundedBy Employee Retirement Income Security Act of 1974
fundingSource insurance premiums from covered pension plans
investment income
recoveries from plan sponsors in bankruptcy
governmentBranch executive branch of the United States
guarantees pension benefits up to statutory limits
hasLegalStatus wholly owned government corporation
hasProgram multiemployer insurance program
single-employer insurance program
headquartersLocation Washington, D.C.
inception 1974
industry pension insurance
intervenesWhen pension plan terminates without sufficient assets
jurisdiction United States federal government
languageOfWork English
legalBasis Employee Retirement Income Security Act of 1974
mandate encourage continuation and maintenance of private pension plans
keep pension insurance premiums at the lowest levels consistent with obligations
provide timely and uninterrupted payment of pension benefits
namedAfter its function of guaranteeing pension benefits
oversightBody United States Congress committees with jurisdiction over pensions
parentOrganization United States government
primaryRole insures private-sector defined benefit pension plans
protects pension benefits when covered plans fail
receivesAppropriations no regular taxpayer-funded appropriations
regionServed United States
regulates termination of covered defined benefit plans
sector public sector
serviceType pension benefit guaranty
subjectOf pension policy debates in the United States
supervisingAuthority United States Congress
takesOver trusteeship of certain terminated pension plans
website https://www.pbgc.gov

How these facts were elicited

Referenced by (16)

Full triples — surface form annotated when it differs from this entity's canonical label.

Senate Health, Education, Labor, and Pensions Committee oversees Pension Benefit Guaranty Corporation
HELP Committee overseesAgency Pension Benefit Guaranty Corporation
Pension Benefit Guaranty Corporation abbreviation PBGC
linked to: Pension Benefit Guaranty Corporation
Pension Benefit Guaranty Corporation serviceType pension benefit guaranty
linked to: Pension Benefit Guaranty Corporation
Employee Retirement Income Security Act of 1974 administeredBy Pension Benefit Guaranty Corporation
Employee Retirement Income Security Act of 1974 relatedTo Pension Benefit Guaranty Corporation
ERISA administeredBy Pension Benefit Guaranty Corporation
ERISA establishes Pension Benefit Guaranty Corporation
Public Law 93-406 creates Pension Benefit Guaranty Corporation
Public Law 93-406 administeredBy Pension Benefit Guaranty Corporation
Title IV – Plan Termination Insurance administeredBy Pension Benefit Guaranty Corporation
Title IV – Plan Termination Insurance created Pension Benefit Guaranty Corporation
Title IV – Plan Termination Insurance empowers PBGC to sue to enforce termination liability
linked to: Pension Benefit Guaranty Corporation
PPA 2006 relatedTo PBGC
linked to: Pension Benefit Guaranty Corporation
Public Law 109-280 relatedTo Pension Benefit Guaranty Corporation