| Measure | Applicable Goal | 2001 Milestone | 2001 Result | Baseline |
|---|---|---|---|---|
| Protecting the Interests of Participants: | ||||
| Protect the interests of defined benefit pension plan participants by resolution of bankruptcy actions with companies sponsoring plans | 1 | By their nature, these measures do not lend themselves to setting annual targets or milestones. PBGC measures performance annually based on actual results. | 118 plans 122,200 participants |
92 plans 226,000 participants Baseline value set in 1999 |
| Customer Satisfaction: | ||||
| American Customer Satisfaction Index of participants who contact PBGC for service (PBGC became a member of the American Customer Satisfaction Index (ACSI) in 2001. In 2001, as it transitioned to the ACSI, PBGC continued its own survey of participants in plans it took over who contacted PBGC with inquiries. Of those participants, 69 percent said the overall quality of PBGC's service was "outstanding" or "above average" (on a five-point customer satisfaction scale). ) | 2 | N/A | 73 | 73 Baseline value set in 2001 |
| Achieve “outstanding” or “above average” ratings (on a five-point customer satisfaction scale) for inquiries handled from pension practitioners/sponsors | 2 | 71% | 71% | 54% Baseline value set in 1997 |
| Operations: | ||||
| Provide reliable estimated benefits to participants that are within 10% of final benefits and are in clear, understandable language | 2 | 90% | 94% | 84% Baseline value set in 1999 |
| Reduce from 4-5 years to 3-4 years the average time frame to send benefit determinations to participants in defined benefit plans taken over by PBGC | 2 | 3-4 years | 3.6 years | 5.95 years Baseline value set in 1997 |
| Reduce the age of pre-trusteeship inventory to no more than one year | 2 | 100% 2 years or less |
98% 2 years or less< |
98.6% 4 years or less Baseline value set in 1998 |
| Send the first benefit payment to an eligible person within three months of receiving his/her completed application | 2 | 92% | 92% | 83% Baseline value set in 1999 |
| Find and pay benefits to missing participants in terminated defined benefit plans | 2 | By their nature, these measures do not lend themselves to setting annual targets or milestones. PBGC measures performance annually based on actual results. | 8,942 participants | 1,303 participants Baseline value set in 1999 |
| Financial Management: | ||||
| Collect 99% of pension insurance premiums due | 3 | 99% | 98% | 97% Baseline value set in 1997 |
| Research and respond within 90 days to requests for premium refunds, waiver of premium penalties, and reconsiderations of PBGC premium decisions (During 2001 PBGC redefined this measure to more accurately reflect customer expectations. Only four months of data are included in the baseline.) | 3 | NA | 26% | 26% Baseline value set in 2001 |
| Approximate comparable 5-year investment indices for PBGC’s portfolio performance | 3 | By their nature, these measures do not lend themselves to setting annual targets or milestones. PBGC measures performance annually based on actual results. | For 2001 PBGC Equities 8.3% Index Equities 8.6% PBGC Fixed-Income 9.9% Index Fixed-Income 9.8% |
Baseline set in 1997, PBGC Equities 8.3% Index Equities 8.6% PBGC Fixed-Income 9.9% Index Fixed-Income 9.8% |
Back to Annual Report Index | Back to WWW.PBGC.GOV | PDF version of PBGC's 2001 Annual Report