PBGC – Pension Benefit Guaranty Corporation

  • (p1) –  Currently, the Pension Benefit Guaranty Corporation is some $333 million plus in the red, although there is still a cash flow.

—  Opening Statement of Senator Don Nickles, (R-OK)

1983 0614 – GOV (Senate) – Single-Employer Pension Plan Termination Insurance Improvements Act of 1983  – [PDF-144p-archive.org, VIDEO-?] 

  • Senate – Committee on Labor and Human Resourcess – Subcommittee on Labor

⇒  Present: Senator Nickles (Bonk: Was he the only Senator at this Hearing?)

  • “Removing Pension Assets” “Risks to Retirees and the Federal Pension Insurance Program”
  • Executive Life Insurance Company
    • Pacific Lumber
  • (p99) – From a dollars and cents viewpoint, the need for a $6.00 premium is undebatable.
  • Our liabilities exceeded our assets by $333 million as of September 30, 1982 and that situation has not improved.
  • In fact it has worsened.
    • Without a premium increase, we will not be able to pay our debts as they mature.
  • The PBGC’s deficit when we first appeared before Congress in May 1982 to request a premium increase approximated $ 190 million.
  • The deficit by September 30, 1982 had increased to $333 million.  

—  Prepared Statement of Edwin M. Jones, Executive Director, Pension Benefit Guaranty Corporation

1983 0928 – GOV (House) – ERISAs Single employer Pension Plan Termination Insurance Program – [PDF-193p-GooglePlay

  • MEPPAA
  • 1982 07- AAA – EAR – Enrolled Actuaries Report
    • Recent Developments in Corporate Plan Termination Insurance, by J. Thomas Bolen
  • 1983 0614 – GOV (Senate) – Single-Employer Pension Plan Termination Insurance Improvements Act of 1983
  • 1983 0928 – GOV (House) – ERISAs Single employer Pension Plan Termination Insurance Program – [PDF-193p-GooglePlay
  • 1984 0320 – GOV (House) – Financial Status of the Pension Benefit Guaranty Corporation’s Single Employer Insurance Program
  • 1989 – AP – Pension Research Council (Wharton) – The Economics of Pension Insurance, by Richard A. Ippolito – [link]
  • 1992 0925 – GOV (Senate) – Financial Strength of Pensions and the Pension Benefit Guaranty Corporation – [PDF-153p, Video-?]
    • Senate – Committee on Finance – Subcommittee on Private Retirement Plans and Oversight of the Internal Revenue Service