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Press Room


  • Nov 16

    PBGC Reports Improved Financial Condition

    Single-Employer Program Emerges from Deficit; Multiemployer Program Narrows Deficit – Insolvency Still Looms

    WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation’s Fiscal Year 2018 Annual Report, released today, shows improvement in the financial condition of the agency’s Single-Employer Insurance and Multiemployer Insurance Programs.   

  • Oct 26

    PBGC Announces Leadership Appointments

    WASHINGTON - The Pension Benefit Guaranty Corporation announced two key appointments to its leadership team. Janice Brown-Taylor has been named Deputy Chief of Benefits Administration and Michael Hutchins is the Director for the Plan Asset & Data Management Department.

  • Oct 15

    PBGC Statement on Sears Bankruptcy Filing

    The Pension Benefit Guaranty Corporation’s mission is to protect the pension benefits of American workers and retirees in private sector pension plans. When pension plans terminate with insufficient funds, PBGC’s guarantee is critical to protecting the participants’ retirement security.

  • Sep 26

    David Foley Appointed Chief of Benefits Administration

    WASHINGTON - The Pension Benefit Guaranty Corporation announced the appointment of David Foley as Chief of Benefits Administration, where he will lead efforts to advance PBGC’s commitment to pay accurate and timely benefits to retirees and beneficiaries.

    “David has served in senior leadership positions at PBGC and other federal agencies,” said PBGC Director Tom Reeder. “This makes him an excellent choice to lead our benefits office, which carries out a vital aspect of our mission.”

  • Sep 13

    PBGC Finalizes Guidance on Mergers and Transfers Between Multiemployer Plans

    WASHINGTON - The Pension Benefit Guaranty Corporation is issuing rules to implement its authority to facilitate mergers of multiemployer pension plans. Mergers of multiemployer plans can help protect the benefits earned by workers and retirees and extend the solvency of troubled plans. This rulemaking also updates the general rules on plan mergers and transfers.


  • Dec 21

    PBGC Expands Missing Participants Program to Terminated 401(k) and Other Plans

    WASHINGTON –  The Pension Benefit Guaranty Corporation is expanding its Missing Participants Program to terminated 401(k) and other plans in an effort to connect more people to their retirement savings. “PBGC’s expanded Missing Participants Program addresses an important problem and meets the needs of our stakeholders,” said PBGC Director Tom Reeder. “We look forward to working with employers, practitioners, and participants to help connect people to their retirement benefits.”   

  • Nov 8

    PBGC, Sears Reach Agreement to Further Fund Pension Plans

    WASHINGTON - The Pension Benefit Guaranty Corporation and Sears Holdings Corporation have reached a new agreement that upon closing provides approximately $500 million in funding for Sears’ two pension plans, including contributions already made by Sears since August 2017.  The pension plans cover about 100,000 participants. Closing on this agreement should occur in about three months.

  • Aug 7

    Statement by PBGC on Avaya’s pension plans

    The Pension Benefit Guaranty Corporation (PBGC) released the following statement today on Avaya’s new plan of reorganization, including the proposal to maintain its pension plan for hourly employees but end its pension plan for salaried employees.

    • statement: 02

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