PBGC Operations During the Government Shutdown
Message from the Director, Josh Gotbaum
During the current government shutdown, PBGC will stay open for business. All of us at PBGC — federal employees and contractors — will remain on the job. We will continue to pay benefits to the retirees who depend on us, to do our other work, and to honor our obligations.
This is not new. PBGC stayed open throughout the government shutdowns in 1995-96. That's because PBGC is different from most government agencies: Our funds are paid for by insurance premiums and plan assets, not taxpayer dollars.
As always, PBGC regards it as especially important to continue to do our work well, diligently, and with the dedication America's workers and retirees deserve.
What happens at PBGC if the rest of the government shuts down?
PBGC will remain open. PBGC does not receive any funding from taxpayers. As such, we will continue to operate under the authority of ERISA, the original legislation establishing PBGC as a separate corporation. We will continue to provide outstanding customer service, make timely benefit payments and meet contractual obligations.