PBGC: A Four-Letter Word to Plan Sponsors

The noble mission of the Pension Benefit Guaranty Corporation (PBGC) is to pay benefits to the orphaned retirees of failed defined benefit (DB) plans (with some limitations). To date, they have taken responsibility for about 4,500 single employer DB plans, covering the shortfalls between benefits promised and assets collected. For decades, this process has operated[…]