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FOR IMMEDIATE RELEASE
August 05, 1997
CONTACT: Judith Welles, Director, Communications & Public Affairs
or Andy Gasparich, Public Affairs Officer (202) 326-4040
Data Book Published By PBGC
The Pension Benefit Guaranty Corporation (PBGC) today announced the availability of a new publication, Pension Insurance Data Book 1996, which tracks the experience of the single-employer pension insurance program and the defined benefit pension plans it protects.
"This useful reference tool can contribute to informed analyses that can help ensure a sound pension system and protect the retirement income of America's working men and women," said PBGC Executive Director David M. Strauss.
The data book supplements the PBGC Annual Report to Congress by presenting more detailed statistics on the single-employer insurance program, the larger of PBGC's two insurance programs, which covers about 33 million participants in 48,000 defined benefit pension plans.
The publication provides data on the pension plans insured by PBGC's single-employer program and the underfunded pension plans that were terminated and are now the responsibility of PBGC.
The section on terminated plans includes data on the number of workers receiving benefits from PBGC in each state, as well as the industries where they were employed. The section on insured plans contains data on the funding levels of plans and information on the numbers and locations of people whose benefits are covered by PBGC.
The data book may be accessed through PBGC's home page at www.pbgc.gov. Single copies of the data book are available by writing to: PBGC Data Book, Room 240, 1200 K Street, N.W., Washington, D.C. 20005-4026. Requests may also be made via facsimile transmittal at (202) 326-4042.
PBGC is a federal agency created by the Employee Retirement Income Security Act of 1974 to guarantee payment of basic pension benefits earned by workers. Its two insurance programs -- single-employer and multiemployer -- cover about 42 million American workers and retirees participating in about 50,000 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and by investment returns.
