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FOR IMMEDIATE RELEASE
March 26, 2003
Randy Clerihue, Director
Communications & Public Affairs
or
Joel Greenblatt, Writer
(202) 326-4040
PBGC Publishes Updated Data Book
The Pension Benefit Guaranty Corporation (PBGC) today issued a new edition of its annual statistical reference book, the Pension Insurance Data Book 2002. The book provides researchers, journalists, and others interested in the federal pension insurance program with easily accessible, detailed statistics for PBGC's two separate programs covering single-employer and multiemployer plans.
The Pension Insurance Data Book 2002 tracks the experience of PBGC's insurance programs and the defined benefit pension plans they protect. Defined benefit plans are traditional pension plans that promise workers a specific monthly benefit at retirement.
For each of PBGC's insurance programs, the book includes graphs and tables on the financial condition of the program, numbers of people and plans protected by the program, the people receiving or eligible to receive benefits from PBGC and the benefits paid to them, claims against the program, and other vital statistics.
The data book is available on PBGC's Web site at www.pbgc.gov. Single copies of the publication may be obtained by writing to: PBGC Data Book, Suite 240, 1200 K Street NW, Washington, DC 20005-4026. Requests also may be submitted by FAX to (202) 326-4042.
PBGC is a federal corporation created by the Employee Retirement Income Security Act of 1974 to guarantee payment of basic pension benefits earned by workers. Its two insurance programs cover about 44 million American workers and retirees participating in about 32,500 private-sector defined benefit pension plans, including about 1,650 multiemployer plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns.
