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This page has not been translated. Please go to PBGC.gov's Spanish home page for more information available in Spanish.

Esta página no ha sido traducida. Por favor vaya a la página principal del sitio de español de PBGC para ver información disponible en español.

# Press Room

### 2018

                                -  May31  PBGC Projections: Multiemployer Program Insolvent in FY 2025Single-Employer Program Continues to Show Improvement
﻿﻿﻿﻿﻿WASHINGTON - The Pension Benefit Guaranty Corporation’s Multiemployer Insurance Program continues to face insolvency by the end of fiscal year 2025, according to findings in the FY 2017 Projections Report. The agency’s insurance program for multiemployer pension plans covers over 10 million people.
- Press Release:                       18-02 
 

                                -  Apr3  PBGC Issues Guidance to Assist Multiemployer Pension Plans Seeking Alternative Payment Rules for Employer Withdrawal Liability
WASHINGTON –  The Pension Benefit Guaranty Corporation is issuing guidance to assist multiemployer pension plans that request PBGC review of alternative plan rules for satisfying employer withdrawal liability. The guidance explains PBGC’s review process, the information needed, and factors PBGC considers in reviewing plan proposals.
- Press Release:                       18-01 
 

### 2017

                                -  Dec21  PBGC Expands Missing Participants Program to Terminated 401(k) and Other Plans
WASHINGTON –  The Pension Benefit Guaranty Corporation is expanding its Missing Participants Program to terminated 401(k) and other plans in an effort to connect more people to their retirement savings. “PBGC’s expanded Missing Participants Program addresses an important problem and meets the needs of our stakeholders,” said PBGC Director Tom Reeder.
- Press Release:                       17-12 
 

                                -  Dec15  PBGC to Pay Pension Benefits for Salaried Employees and Retirees of Avaya
WASHINGTON — The Pension Benefit Guaranty Corporation will pay retirement benefits for nearly 8,000 current and future retirees who participated in the Avaya, Inc. Pension Plan for Salaries Employees.
- Press Release:                       17-11 
 

                                -  Nov16  PBGC Fiscal Year 2017 Annual Report: Multiemployer Program Deficit Widens to $65.1B; Single-Employer Program Continues to Improve, Deficit Narrows to $10.9B
WASHINGTON - The Pension Benefit Guaranty Corporation’s Fiscal Year 2017 Annual Report, released today, shows that the deficit in its insurance program for multiemployer plans rose to $65.1 billion at the end of FY 2017, up from $58.8 billion a year earlier. The increase was driven primarily by the ongoing financial decline of several large multiemployer plans that are expected to run out of money in the next decade.
- Press Release:                       17-10 
 

                                -  Nov8  PBGC, Sears Reach Agreement to Further Fund Pension Plans
WASHINGTON - The Pension Benefit Guaranty Corporation and Sears Holdings Corporation have reached a new agreement that upon closing provides approximately $500 million in funding for Sears’ two pension plans, including contributions already made by Sears since August 2017.  The pension plans cover about 100,000 participants. Closing on this agreement should occur in about three months.
- Press Release:                       17-09 
 

                                -  Oct30  PBGC Guarantee Limit for Single-Employer Plans Increases for 2018
WASHINGTON - The Pension Benefit Guaranty Corporation announced today the guarantee limits for single-employer plans that fail in 2018.  The following table shows those limits for sample ages and payment forms.
- Press Release:                       17-08 
 

                                -  Oct16  PBGC to Launch Pilot Mediation Project to Resolve Certain Termination Liability Collection and Early Warning Program Cases
WASHINGTON – The Pension Benefit Guaranty Corporation announced a new pilot program to offer mediation in certain Termination Liability Collection and Early Warning Program cases. PBGC’s Pilot Mediation Project will allow parties to resolve cases with the assistance of a skilled, neutral and independent dispute resolution professional in a timely and cost-effective manner**.**
- Press Release:                       17-07 
 

                                -  Sep1  PBGC to Provide Early Financial Assistance to Furniture Workers Multiemployer Pension Plan
WASHINGTON – The Pension Benefit Guaranty Corporation announced that it has approved a partition application and will provide early financial assistance to the United Furniture Workers Pension Fund A, a Nashville-based multiemployer pension plan that covers nearly 10,000 participants.
- Press Release:                       17-06 
 

                                -  Aug7  Statement by PBGC on Avaya’s pension plans and the company’s new plan to emerge from bankruptcy
The Pension Benefit Guaranty Corporation (PBGC) released the following statement today on Avaya’s new plan of reorganization, including the proposal to maintain its pension plan for hourly employees but end its pension plan for salaried employees.
- Press Release:                       17-05 
 

                                -  Aug7  Statement by PBGC on Avaya’s pension plans
The Pension Benefit Guaranty Corporation (PBGC) released the following statement today on Avaya’s new plan of reorganization, including the proposal to maintain its pension plan for hourly employees but end its pension plan for salaried employees.
- statement:                       02 
 

                                -  Aug3  PBGC Projections: Multiemployer Program Likely Insolvent by the end of 2025; Single-Employer Program Likely to Eliminate Deficit by 2022
WASHINGTON - The insurance program for multiemployer pension plans, which covers more than 10 million Americans, is likely to run out of money by the end of 2025 according to the Pension Benefit Guaranty Corporation’s *FY 2016 Projections Report*.
- Press Release:                       17-04 
 

                                -  Mar9  PBGC, Sears Reach Agreement to Further Protect Pension Plans
WASHINGTON, D.C. - The Pension Benefit Guaranty Corporation and Sears Holdings Corporation have reached a new agreement that provides additional funding and security for the company's two pension plans.
- Press Release:                       17-03 
 

                                -  Mar1  PBGC Provides Financial Assistance to Road Carriers Local 707 Pension Fund - Participants’ Benefits Payments Cut to PBGC Guaranteed Levels
WASHINGTON, D.C. - The Pension Benefit Guaranty Corporation has started providing financial assistance to the Road Carriers Local 707 Pension Fund, a newly insolvent multiemployer pension plan based in Hempstead, New York. The financial assistance will help pay the guaranteed portion of pension benefits earned by nearly 4,000 participants.
- Press Release:                       17-02 
 

                                -  Feb13  PBGC Announces Appointments
WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation is pleased to announce two appointments to key positions. Nicole Puri has been named the agency’s Risk Management Officer and Adi Berger is the Director for the Corporate Finance & Restructuring Department.

**Risk Management Officer - Nicole Puri**
- Press Release:                       17-01 
 

### 2016

                                -  Nov16  PBGC Fiscal Year 2016 Annual Report Shows Increasing Deficit in Multiemployer Program
WASHINGTON - The Pension Benefit Guaranty Corporation today released its Fiscal Year 2016 Annual Report showing the deficit in its multiemployer insurance program rose to $58.8 billion. The increase was driven by additional multiemployer plans that are expected to run out of money within the next 10 years, and by decreases in interest factors used to value PBGC's liabilities.
- Press Release:                       16-18 
 

                                -  Nov15  Karen Morris Appointed Chief of Negotiations and Restructuring
Contact: Marc Hopkins 202.326.4149

WASHINGTON - The Pension Benefit Guaranty Corporation announced the appointment of Deputy Chief Counsel Karen Morris as Chief of Negotiations and Restructuring, where she will play a key role in  the agency's efforts to preserve traditional pension plans.
- Press Release:                       16-17 
 

                                -  Oct28  PBGC Guarantee Limit for Single-Employer Plans Increases for 2017
WASHINGTON - The Pension Benefit Guaranty Corporation announced today that the guarantee limit for single-employer plans that fail in 2017 will be higher than the limit that applied for 2015 and 2016.

The following table shows the maximum annual guarantee limits for 2017 for sample ages and payment forms. Amounts for other ages are posted on a table on PBGC's website.
- Press Release:                       16-16 
 

                                -  Oct11  PBGC and Alcoa Inc. Reach Agreement on $150 Million in Additional Pension Funding
WASHINGTON - The Pension Benefit Guaranty Corporation reached an agreement with Alcoa Inc. to provide an additional $150 million in pension contributions to the company's two largest pension plans, which cover more than 83,000 people.
- Press Release:                       16-15 
 

                                -  Sep22  PBGC Lessens Burden for Plan Sponsors, Reduces Late Premium Penalties
Contact: Dedra Jones: 202.326.4343

WASHINGTON - The Pension Benefit Guaranty Corporation is reducing penalties for late payment of premiums in an effort to reduce regulatory costs and make it easier for plan sponsors to maintain traditional pension plans. 
- Press Release:                       16-14 
 

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##           PBGC Press Contacts      

### **Communications & Public Affairs**

Phone: (202) 229-4343

Fax: (202) 229-4344

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