Press Room

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Teamsters Local 641 Pension Plan (Local 641 Plan).

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Milk Industry Office Employees Pension Plan (Milk Industry Plan). The plan, based in New York City, New York, covers 78 participants.

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Local 584 Pension Plan (Local 584 Plan). The plan, based in New York City, New York, covers 2,172 participants in the transportation industry.

WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation announced four appointments to its leadership team in the Office of Negotiations & Restructuring (ONR) and the Office of General Counsel. 

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Local 408 International Brotherhood of Teamsters, Chauffeurs, Warehousemen and H

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the Special Financial Assistance (SFA) application submitted by the Road Carriers Local 707 Pension Plan (Local 707 Plan). The Local 707 Plan, based in Hempstead, New York, covers 3,804 participants in the transportation industry.

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the plan application for the Bricklayers and Allied Craftworkers Local 5 New York Retirement Fund Pension Plan (Bricklayers Local 5 Plan).

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that $112.6 million has been paid in special financial assistance to the Local 138 Pension Plan (Local 138 Plan), a financially troubled multiemployer pension plan based in Baldwin, N.Y.

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the plan application for the Idaho Signatory Employers-Laborers Pension Plan (Idaho Signatory) in Portland, Ore. The plan covers 682 participants in the construction industry and will receive $13.9 million in special financial assistance, including interest to the expected date of payment to the plan.

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved its first multiemployer plan application under the Special Financial Assistance (SFA) Program created by the American Rescue Plan Act of 2021 (ARP).

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) today released its Fiscal Year (FY) 2021 Annual Report.

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) today released the agency’s Fiscal Year (FY) 2020 Projections Report and a

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) today announced an interim final rule implementing a new Special Financial Assistance (SFA) Program for financially troubled multiemployer defined benefit pension plans.  

WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation (PBGC) announced the appointment of Ann Orr as Chief Policy Officer.

"PBGC welcomes Ann back to serve in a new capacity," PBGC Director Gordon Hartogensis said. "She previously served at PBGC from 2011-2019 and brings a wealth of agency knowledge and experience to our mission of protecting the retirement security of millions of Americans."

WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation (PBGC) announced the appointment of Russell Dempsey as General Counsel.

“It is my pleasure to welcome Russ to the PBGC team as our new General Counsel,” PBGC Director Gordon Hartogensis said. “His leadership and expertise will help inform and guide our efforts to support the agency’s mission and protect the retirement security of the individuals who rely on us.”

WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation (PBGC) announced the appointment of Nicholas J. Novak as the agency’s Inspector General. In his 35-year career, Novak spent nearly 20 years holding various positions within PBGC’s Office of Negotiations and Restructuring (ONR) and the agency’s Office of the Inspector General. Novak’s ONR portfolio included supervising aspects of the Multiemployer Pension Insurance Program.

WASHINGTON, D.C. - The Pension Benefit Guaranty Corporation (PBGC) today announced it has reached a settlement agreement with the Food Employers Labor Relations Association (FELRA), the United Food and Commercial Workers union (UFCW), and the FELRA/UFCW Pension Fund (FELRA/UFCW plan), a severely underfunded multiemployer plan that covers approximately 50,000 grocery and warehouse workers and retirees in the D.C. metropolitan area.

WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation (PBGC) today released its Fiscal Year (FY) 2020 Annual Report. The report notes, among other things, that the agency’s Multiemployer Insurance Program expected insolvency date has been delayed from FY 2025 to sometime in FY 2026.

WASHINGTON, D.C. – Pension Benefit Guaranty Corporation (PBGC) Director Gordon Hartogensis today released PBGC management’s response to a PBGC Office of the Inspector General (OIG) audit of the agency’s procurement activities.

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) is taking responsibility for the J.C. Penney Corporation, Inc. Pension Plan, which covers about 36,000 current and future retirees. The retailer, headquartered in Plano, Texas, operates about 690 stores throughout the United States and Puerto Rico.