Measure | Applicable Goal | 2003 Milestone | 2003 Result | Baseline |
---|---|---|---|---|
Protect the interests of defined benefit pension plan participants by: | ||||
Monitoring companies sponsoring defined benefit pension plans, and reviewing their transactions. | 1 | By their nature, these measures do not lend themselves to setting annual targets or milestones. PBGC measures performance annually based on actual results. | 902 controlled groups 2,917 plans |
902 controlled groups 2,917 plans Baseline value set in 2003 |
Resolution of bankruptcy actions with companies sponsoring plans | 1 | By their nature, these measures do not lend themselves to setting annual targets or milestones. PBGC measures performance annually based on actual results. | 172 plans 676,899 participants |
92 plans 226,000 participants Baseline value set in 1999 |
Customer Satisfaction: | ||||
American Customer Satisfaction Index of participants who contact PBGC for service | 2 | 74 | 77 | 73 Baseline value set in 2001 |
American Customer Satisfaction Index of pension practitioners who contact PBGC for service | 2 | 70 | 69 | 69 Baseline value set in 2002 |
Operations: | ||||
Send benefit determinations to participants in defined benefit pension plans taken over by PBGC within 3.0 years, on average | 2 | 3 years | 2.2 years | 5.95 years Baseline value set in 1997 |
Make trusteeship decisions within one year of opening the case for non-bankruptcy reportable events | 2 | 90% | 92% | 94% Baseline value set in 1997 |
Send the first benefit payment to an eligible person within 3 months of receiving his/her completed application | 2 | 95% | 97% | 83% Baseline value set in 1999 |
Find and pay benefits to missing participants in terminated defined benefit plans | 2 | By their nature, these measures do not lend themselves to setting annual targets or milestones. PBGC measures performance annually based on actual results. | 7,729 participants | 1,303 participants Baseline value set in 1999 |
Assure the accuracy of benefit determinations based on an audit of benefit determination letters (BDLs) issued | 2 | New measure in 2003. | Issued Statement of Reasonable Assurance of Accuracy | Issued Statement of Reasonable Assurance of Accuracy Baseline value set in 2003 |
Financial Management: | ||||
Research and respond within 90 days to requests for premium refund, waiver of premium penalty, and reconsideration of a PBGC premium decision | 3 | 85% | 82% | 26% Baseline value set in 2001 |
Approximate comparable 5-year investment indices for PBGC’s portfolio performance | 3 | By their nature, these measures do not lend themselves to setting annual targets or milestones. PBGC measures performance annually based on actual results. | PBGC Equities 3.1% Index Equities 2.0% PBGC Fixed-Income 6.5% Index Fixed-Income 6.5% |
Baseline set in 1997, PBGC Equities 20.6% Index Equities 20.6% PBGC Fixed-Income 10.9% Index Fixed-Income 8.9% |
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