Number: RL34656
Title: Pension Benefit Guaranty Corporation (PBGC) Investment Policy: Issues for Congress
Authors: Kelly Kinneen and Patrick Purcell, Domestic Social Policy Division 
Abstract: The Pension Benefit Guaranty Corporation (PBGC) is a federal corporation established under Title IV of the Employee Retirement Income Security Act of 1974 (ERISA, P.L. 93-406). The PBGC insures private pension beneficiaries against the complete loss of accrued benefits if their defined benefit pension plan is terminated without adequate funding. The PBGC receives no appropriations from general revenue. Its operations are financed by insurance premiums set by Congress and paid by sponsors of defined benefit plans, investment income from the assets in its trust fund, and recoveries from the companies formerly responsible for the trusteed plans.
Pages: 21
Date: September 8, 2008