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PBGC Blog: Retirement Matters

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

An Openmarket.org article quotes PBGC Director Josh Gotbaum.

Sycamore, Talbots Say Pension Board Won't Oppose Buyout, Bloomberg publishes.

AccountingWeb gives insight on the question "Are Defined-Benefit Retirement Plans Better for Small Businesses?"

PBGC Director Josh Gotbaum penned a letter to the editor of the Washington Examiner where he addressed retirement security and the desire of many Americans to keep both their jobs and their pensions.

Read the full letter to the editor.

PBGC Director Josh Gotbaum recently returned from the 3rd Annual U.S. Investment Management Awards where he was honored by Institutional Investor magazine with its Outstanding Contribution Award. The magazine selected Gotbaum "for the important work he’s doing to protect the future of defined benefit plans and their beneficiaries."

In an article on the magazine’s website, writer Frances Denmark says Gotbaum has become "a national voice calling for new forms of defined benefit plans" and notes his forceful efforts to preserve pensions at American Airlines. 

Read the full article on Institutional Investor website.

Most people won't have enough to live the life they want when they retire. And they know it, too. But what will they do about it?

PBGC Director Josh Gotbaum spoke this morning at the National Press Club in Washington about today's retirement realities. More...

The Best-Saved Plans

  |   March 29, 2012

When the best-laid pension plans go away, PBGC is there to help. But the “best-saved plans” are the ones we never trustee.

When an employer proves it absolutely can’t keep its pension plan, PBGC steps in to pay retiree benefits, up to the limits set by law. But it’s a lot better for everybody—especially retirees—when a company can keep its own pension promises without having fall back on our guarantees. More...

Pensions Need a Makeover

  |   March 22, 2012

Defined benefit pensions provide lifetime retirement security, but need to be updated for today’s workforce. PBGC Director Josh Gotbaum talked about his ideas at a recent forum sponsored by Institutional Investor magazine. Here’s a March 20 report from the magazine’s Investor Intelligence Network website: More...