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PBGC Blog: Retirement Matters

Did you catch Director Josh Gotbaum's interview on C-SPAN? In case you missed it, we've got the details.

Josh spoke with Bob Litan, director of research at Bloomberg Government, about PBGC's efforts to safeguard the pensions of millions of Americans. Another trending topic Director Gotbaum spoke about: multiemployer pension plans and PBGC's multiemployer program.

Then, the conversation gained added insights from panelists Earl Pomeroy, Cary Franklin, Norman Stein, and Randy DeFrehn. 

Together, the panelists and Director Gotbaum talked about the need for pension reform.

Check out Director Gotbaum's remarks on C-SPAN.

PBGC Retirees ACSI Scores: 89 in 2008. 88 in 2009. 87 in 2010. 90 in 2011. 89 in 2012. Federal Goverment Aggregate: 69 in 2008. 69 in 2009. 65 in 2012. 67 in 2011.

PBGC's FY2012 Annual Report, released today, gives insight on the work we've been doing here at the agency. The roughly 120 page report covers the period that ended September 30, 2012.

The report kicks off with messages from the PBGC Board Chair, Hilda L. Solis and PBGC Director Josh Gotbaum, and highlights our great scores in customer service.

Retirees who rely on PBGC for their pension benefits rate the agency as one of the best in government.

We received a score of 89 on the American Customer Satisfaction Index (ACSI). That's more than 20 points above the government average (a score of 80 or higher is considered excellent, whether for a government agency or a private business).  For retirees, the ease of applying for benefits and the reliability of monthly payments are of high importance, and they gave us high ratings in both categories. 

Aside from our stand out customer service, the report also features:

    • Our efforts to Preserve Pensions at American Airlines and other companies
    • Our Insurance Programs
    • Our approach on curbing PBGC's Deficit

Weekly Pension News Round-Up

  |   November 2, 2012

Here's what made headlines this week in pension news:  

After a speech at the American Society of Pension Professionals & Actuaries (ASPPA) Annual Conference, PBGC Director Josh Gotbaum was quoted in three articles:

Business Insurance publishes "American Airlines freezes its pension plans."

Washington Jewish Week prints "B'nai B'rith 170 years old and still strong."

Weekly Pension News Round-Up

  |   October 19, 2012

Here's what made headlines this week in pension news: 

Both Pensions & Investments and Business Insurance write about lump-sums in "Lump-sum payouts moving into fast lane" and "Companies that are offering lump-sum pension buyouts."

Workforce Management publishes "From Pension to Payout: Employers Are Liking Lump Sums."

PLANSPONSOR.COM runs "PBGC Creating Department of Quality Management."

Pensions & Investments quotes PBGC Director Josh Gotbaum in "PBGC names Richmond pension fund chief to lead benefits unit."

Director Josh Gotbaum with Diane Braunstein and Philip R. Langham.

PBGC Director Josh Gotbaum sat down with his two new management hires — Diane Braunstein and Philip R. Langham — and members of the press. The reason: to announce Braunstein's and Langham's new roles and plans at the agency.

Braunstein will create the agency's up-and-coming Department of Quality Management.  As the department's director, her focus will be on best practices for the agency, especially in the benefits department.

Langham was recently named the agency's new Benefits Administration and Payments Department director. With a few weeks in his new role, Langham is leading the improvements to ensure accurate pension plan valuations.

With decades of helping to shore up retirement security, both department directors are ready to support the agency's mission.

Read the full press release to learn more about the new directors.

Weekly Pension News Round-Up

  |   August 17, 2012

Here's what made headlines this week in pension news:

U.S. News & World Report blogs about "How Safe Is Your American Dream?"

Pensions & Investments features an article on "Identifying the best risk mitigation strategy for a corporate DB plan."

The Washington Post ran the Associated Press article "Federal agency admits mistake with United Airlines pension; some retirees getting raises."

PLANSPONSOR.COM quotes PBGC Director Josh Gotbaum in "PBGC to Begin Back Payments for United Airlines Retirees."

The Philadelphia Inquirer publishes "Without a Pension's Security."