A lot of jobs only offer a 401(k)-style plan to new employees – worse yet, most employees don't have a workplace retirement plan at all.
But there's good news too: about 75 million Americans, and their families, can still rely on lifetime income from a defined benefit pension plan. That's income that they'll get no matter how long they live, and no matter what happens in the markets.
We think that's important. We fight hard so that companies going through bankruptcy reorganization keep their pension plan promises. And, since it's up to the company whether to offer pensions or not, we work hard to reduce regulatory burdens, and to increase flexibility, for companies willing to offer them.
And, when a company's finances are so bad that it can't keep its pension promises, PBGC is there with a safety net.
Jobs that come with pensions are rarer these days, but landing one can help enhance the security of your retirement in these too-often uncertain times.
Visit our Press Room to see what we're doing to protect pensioners and what we do to help employers continue to offer them.