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Press Room

2016

  • May 6

    President Names Henry C. Eickelberg to PBGC Advisory Committee

    WASHINGTON - President Obama has appointed Henry C. Eickelberg to serve as a member of the Advisory Committee of the Pension Benefit Guaranty Corporation. He is charged with representing the interests of employers.

    "Henry's expertise and background in employee benefits and human resources make him a good fit for the Advisory Committee," said PBGC Director Tom Reeder. "We look forward to working with him on ways to better serve our customers, including the employer community."

  • Apr 27

    PBGC Takes Steps to Reduce Premium Penalties

    WASHINGTON - The Pension Benefit Guaranty Corporation is proposing to cut penalties for late payment of premiums in an effort to reduce costs and make it easier for plan sponsors to maintain traditional pension plans.

    As PBGC premiums have risen, so have the penalties.

     "We think penalties should be no more than necessary to encourage timely payments," said PBGC Director Tom Reeder. "I'm committed to doing everything I can to help companies keep their pension plans."

  • Mar 18

    PBGC, Sears Reach Agreement on Financial Protection for Pension Plan

    WASHINGTON - The Pension Benefit Guaranty Corporation and Sears Holdings Corp. have reached a final agreement that provides substantial protections for the Sears pension plan, which covers nearly 200,000 people.  A tentative arrangement was first announced in September 2015. After extensive talks, the agreement is now final.

  • Mar 17

    PBGC to Pay Pension Benefits for A&P Grocery Chain Employees

    WASHINGTON — The Pension Benefit Guaranty Corporation will pay retirement benefits for more than 21,000 current and future retirees of the Great Atlantic & Pacific Tea Co., a supermarket chain based in Montvale, N.J., that is commonly known as A&P.

    PBGC is stepping in because A&P has sold the majority of its assets in bankruptcy proceedings and most of the buyers declined to keep the plans going. The three plans that PBGC will assume ended on Nov. 30, 2015.

Last Updated: August 27, 2021

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