Pension Benefit Guaranty Corporation
Office phone +1 800-400-****
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Homepage https://www.pbgc.gov
LinkedIn Profile https://linkedin.com/company/p***gc***
HQ Location
United States , District Of Columbia, Washington1200 K St NW, Washington, DC 20005
PBGC protects the pension benefits of more than 42 million Americans in private-sector pension plans. PBGC pays for monthly retirement benefits, up to a guaranteed maximum, for nearly 801,000 retirees in 4,200 single-employer and multiemployer pension plans that cannot pay promised benefits. Including those who have not yet retired and participants in multiemployer plans receiving financial assistance, PBGC is responsible for the current and future pensions of about 1.5 million people.
PBGC receives no taxpayer dollars and never has. Its operations are financed by insurance premiums, investment income, and with assets and recoveries from failed plans. PBGC was created by the Employee Retirement Income Security Act of 1974 to encourage the continuation and maintenance of private-sector defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at a minimum.
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