This entry is part of the Director's Hub blog series. You'll hear from our Director, Tom Reeder, about the importance of preserving pension plans and protecting retirement security. Check out Tom's bio to learn more about him.
On November 15, we issued our Fiscal Year 2016 Annual Report. The report describes our accomplishments and gives a snapshot of the financial condition of our insurance programs. Here are a few highlights:
- We paid $5.7 billion in benefits to nearly 840,000 retirees and beneficiaries in failed single-employer plans.
- We paid $113 million in financial assistance to 65 insolvent multiemployer plans so they could pay guaranteed benefits to over 59,000 retirees and beneficiaries.
- The retirees we serve gave us a score of 90 on the American Customer Satisfaction Index. This score is among the best in the public and private sectors.
- We negotiated almost $3 billion in financial assurance to protect 367,000 people in plans at risk from corporate events and transactions. More...
This entry is part of the Director's Hub blog series. You'll hear from our Director, Tom Reeder, about the importance of preserving pension plans and protecting retirement security. Check out Tom's bio to learn more about him.
This week marks National Retirement Security Week, designated by Congress to create awareness about the importance of preparing for retirement. Retirement security is at the heart of PBGC's mission, and this week gives us an opportunity to emphasize the importance of that mission.
I believe in the value of defined benefit pension plans because they provide retirement security in the form of a benefit you can't outlive or outspend. Here at PBGC, we protect the retirement incomes of more than 40 million American workers in defined benefit plans. More...
This entry is part of the Director's Hub blog series. You’ll hear from our Director, Tom Reeder, about the importance of preserving pension plans and protecting retirement security. Check out Tom’s bio to learn more about him.
The majority of my career has been dedicated to preserving retirement security, particularly helping employers establish and maintain retirement plans. I've gained an appreciation for companies that help their employees prepare for retirement by offering a pension plan, despite the perceived burden of maintaining such a commitment. I've also gained an appreciation for the dedication of federal government staffs in the pension area.
Since joining PBGC in October, I've had the pleasure of working with talented professionals who have one goal—protecting the pensions of the 40 million Americans PBGC serves. The staff at PBGC is dedicated to preserving defined benefit plans and protecting retirement security.More...
