pbgc.gov Reviews

https://pbgc.gov redirected to https//www.pbgc.gov during the time we crawled it. The Pension Benefit Guaranty Corporation (PBGC) is a U.S. government agency that protects the retirement security of over 31 million Americans in single-employer and multiemployer pension plans. It was established under the Employee Retirement Income Security Act of 1974 (ERISA) to ensure that participants in defined benefit pension plans receive their promised benefits, even if their employers go out of business or the pension plans are underfunded.

PBGC’s primary function is to pay pension benefits to participants in covered plans when the plans are unable to do so. It collects insurance premiums from covered pension plans and invests the funds to generate income to support its operations.

The agency provides a maximum guaranteed benefit, which is adjusted annually, to participants in covered plans. The maximum guarantee is based on a participant’s age at the time of plan termination and the form of benefit payment (e.g., single life annuity, joint and survivor annuity).

PBGC’s website serves as a resource for various stakeholders, including workers and retirees, employers, and practitioners involved in the administration of pension plans. It offers information on the agency’s programs, news and policy updates, and tools for accessing individual pension benefit information.

For workers and retirees, the website provides access to the MyPBA portal, where individuals can log in to view their personal pension benefit information, update their contact details, and perform other account-related activities.

Employers and practitioners can find guidance on plan administration, premium payments, and compliance requirements. The website also features news releases and updates on PBGC’s activities, such as the approval of special financial assistance (SFA) applications by financially troubled multiemployer pension plans.

Overall, PBGC’s website is a valuable resource for individuals and organizations involved in the U.S. private pension system. It reflects the agency’s commitment to transparency, customer service, and the fulfillment of its mission to safeguard the retirement benefits of American workers.”

the reasons behind this review :
U.S. government agency, Established under the Employee Retirement Income Security Act of 1974 (ERISA), Protects retirement security of over 31 million Americans, Ensures payment of pension benefits in defined benefit plans, Collects insurance premiums from covered pension plans, Invests funds to support operations, Provides a maximum guaranteed benefit to participants, Maximum guarantee based on participant's age and benefit form, Website serves as a resource for workers, retirees, employers, and practitioners, Offers access to the MyPBA portal for individual benefit information, Provides guidance for plan administration and compliance, Features news and policy updates, Reflects commitment to transparency and customer service