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News & Policy

Small Businesses Get New Information from PBGC

October 26, 1998

The Pension Benefit Guaranty Corporation (PBGC) today issued a new publication to help small businesses with federally insured defined benefit pension plans understand the operation and requirements of the federal pension insurance program.

"This is part of our continuing effort to make PBGC a premier customer service organization both for the workers whose pensions we protect and for the plan sponsors and pension professionals who advise them," said PBGC Executive Director David M. Strauss.

The Small Business Guide summarizes all employer administrative responsibilities under the pension insurance program in a single, easy-to-understand reference publication. The booklet also includes legal and regulatory citations for employers who wish to review more detailed information and provides the pertinent PBGC telephone numbers and addresses that employers should use for specific areas such as premium payments and plan terminations.

Copies of the booklet may be obtained by writing to: PBGC, Corporate Policy and Research Department (Suite 250), 1200 K Street NW, Washington, DC 20005. The booklet also may be accessed through PBGC's website.

PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974 to guarantee payment of basic pension benefits earned by some 42 million American workers and retirees participating in about 45,000 private-sector pension 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.

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PBGC No. 99-03