FY 2021 Annual

Performance Plan
PENSION BENEFIT GUARANTY CORPORATION

PBGC - 15 

FY 2021 PBGC Proposed Annual Performance Plan 

PBGC’s current FY 2018-2022 Strategic Plan provides the framework for this annual 

performance plan. PBGC conducts regular data-driven performance reviews and strategic 

reviews. Agency leaders review performance data and status reports on a quarterly basis. The 

continuous evaluation of performance data and customer feedback helps agency leadership to 

monitor what is working well and what may need to be adjusted. These performance reviews 

allow agency leaders to realign or adjust human capital and other resources to influence progress 

on agency goals and priorities. 

PBGC’s business operations, information technology programs, investment portfolios, budgets 

and finances are managed and supported by a multidisciplinary team of professionals and 

administrative staff. The current workforce consists of just under 1,000 federal employees, who 

are supported by contractors. Every federal employee has a performance plan with objectives 

tied to the agency’s strategic goals. Employees review their performance objectives and 

performance outcomes with their supervisor of record every 120 days. These highly skilled 

professionals, who are committed to the work of PBGC’s mission include: 

• Accountants

• Actuaries

• Attorneys

• Auditors

• Benefits Specialists

• Analysts

• IT and Cybersecurity Experts

Each PBGC employee has an important role in the Corporation’s mission of protecting 

America's pensions. We publish an annual performance report of the agency’s accomplishments. 

This framework is consistent with requirements outlined in Government Performance and 

Results Modernization Act of 2010. 

For the full FY 2018-2022 PBGC Strategic Plan, please visit:

https://www.pbgc.gov/about/budget-performance-and-planning

For the FY 2019 PBGC Annual Performance Report (APR), please visit:

https://www.pbgc.gov/sites/default/files/pbgc-fy-2019-annual-report.pdf
PENSION BENEFIT GUARANTY CORPORATION

PBGC - 16 

Strategic Goal 1

Preserve Plans and Protect the Pensions of Covered Workers and Retirees

Strategic Objectives Performance Strategies

1. Encourage the continuation and

maintenance of pension plans

• Engage with employers, workers, and pension practitioners to encourage

pension plan continuation and strengthen retirement security

• Provide timely, concrete and practical guidance to plans on the

implementation of mergers, partitions and alternate withdrawal liability

proposals to reduce employer risk, while preserving plans and benefits

• Maintain a regulatory environment that serves the interests of

stakeholders and minimizes the burdens of sponsoring a plan

2. Protect workers and retirees when plans

are at risk

• Preserve plans during bankruptcy and other corporate transactions

• Protect the retirement security of workers and retirees and the interest of

premium payers in federal courts

• Provide technical assistance, analysis, and options to policy makers and

Congress to improve the financial stability of the Multiemployer Program

• Continue to provide financial assistance to insolvent multiemployer plans

3. Assist policy makers in addressing the

impending insolvency crisis in the

multiemployer insurance program

• Research and forecast insurance program activities

4. Reduce the number of Missing

Participants

• Reunite plan participants with their lost pensions

Goal Leaders: Chief of Negotiations and Restructuring / Chief Policy Officer / General Counsel

Performance Area ($ in thousands) FY 2019 FY 2020 FY 2021

Pension Insurance Total Funding 83,539 83,457 88,878

Total FTE 209 230 230

Communications and Outreach activities support Strategic Objective 1 (Encourage the continuation and 

maintenance of pension plans) by providing exceptional customer service and strengthening transparency, 

disclosure and communication in order to encourage the continuation and maintenance of pension plans. Results 

are measured through the following Performance Goals, Strategies and Measures.

Performance Goal(s):

• Maximize stakeholder input

• Provide technical assistance and practical

guidance to plan sponsors on the implementation

of proposed options to reduce employer risks,

while preserving plans and benefits

• Perform rigorous cost-benefit analysis

• Prioritize simplification and clarity in 

regulations, guidance, and compliance assistance 

activity

• Achieve a score of 78 or higher on PBGC’s

website customer satisfaction survey by FY 2022

• Research and implement improvements each

year to PBGC’s communications (including

PBGC.gov) in response to customer feedback

and key performance indicators 

Performance Strategy:

• Engage with employers, workers and pension

practitioners to encourage pension plan continuation

and strengthen retirement security

• Maintain a regulatory environment that serves

stakeholders and minimizes the burdens of

sponsoring a plan

• Maintain exemplary customer satisfaction ratings

• Provide effective and timely communication with

plan participants and other stakeholders

• Inform stakeholders about provisions of key

regulatory proposals and enacted legislative changes

• Engage with employers, workers, and pension

practitioners to encourage pension plan continuation

and strengthen retirement security
PENSION BENEFIT GUARANTY CORPORATION

PBGC - 17

• Maximize stakeholder education and outreach by 

holding frequent meetings with participant 

groups, plan sponsors, practitioner groups, 

industry associations, and other interested 

stakeholders

• Provide data-driven communications to 

stakeholders based on the latest pension research, 

data and projections

• Inform practitioners and other stakeholders of 

key new regulations through speaking 

engagements at stakeholder conferences and 

meetings

• Support Congressional and Executive Branch 

policymakers in analyzing proposals and 

implementing solutions to the solvency issues facing 

multiemployer plans and PBGC’s Multiemployer 

Insurance Program 

• Work with stakeholders to promote understanding of 

major program risks and possible mitigation 

strategies 

• Serve as a resource for pension policy analysis and 

pension research products, education and guidance 

• Deliver an annual projections report on the future 

status of the Single-Employer and Multiemployer 

Programs 

• Deliver pension insurance data tables annually to 

educate stakeholders on the facts of the singleemployer and multiemployer programs

• Educate and inform the multiemployer community 

(participants, plan sponsors, and other stakeholders) 

on the effects of the insolvency

• Maximize stakeholder education and outreach 

through frequent and regular meetings with 

participant groups, plan sponsors, practitioner 

groups, industry associations, and other stakeholders 

• Provide data-driven communications to stakeholders 

based on the latest pension research data

• Inform practitioners and other stakeholders of key 

new regulations through speaking engagements at 

stakeholder conferences and meetings

Pension Plan Monitoring and Audit activities support Strategic Objective 2 (Protect workers and retirees when 

plans are at risk) by reducing liability and exposure to the agency, preserving participants’ pension benefits and 

completing audits to ensure accurate benefit distribution. Results are measured through the following Performance 

Goals, Strategies and Measures.

Performance Goal:

• Protect pensioners by proactively monitoring 

PBGC’s largest exposures for transactions 

that may pose substantial risks to participants 

and retirees

• Conduct a statistically significant number of 

audits of plans ending in standard 

terminations to ensure that participants 

receive their full retirement benefits

• Represent PBGC’s interests in all bankruptcy 

cases involving defined benefit pension plans

Performance Strategy:

• Preserve plans during bankruptcy when plan sponsors 

undertake transactions which may impair their ability to 

maintain their pension plan(s)

• Complete accurate and auditable compliance reviews of 

standard terminations

• Protect the retirement security of workers and retirees and 

the interests of premium payers in federal courts
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Performance Measure & Targets FY 2017 

Result

(Target)

FY 2018

Result 

(Target)

FY 2019 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Reportable events resolved within 30 days N/A

New 

Measure

N/A

New 

Measure

N/A

New 

Measure

(95%) (95%)

Percent of termination recommendations approved 

by senior Agency officials

N/A

New 

Measure

N/A

New 

Measure

N/A

New 

Measure

(90%) (90%)

Standard termination audits completed N/A

New 

Measure

N/A

New 

Measure

N/A

New 

Measure

(300) (300)

What actions will you take in FY 2021 to achieve the targets described above?

• Ensure adequate staffing and cross-training

• Fulfill hiring goals

Multiemployer Technical Assistance activities support Strategic Objective 3 (Assist policy makers in addressing the 

impending insolvency crisis in the multiemployer insurance program) by delivering technical assistance to 

Congress. Results are measured through the following Performance Goals, Strategies and Measures.

Performance Goal(s):

• Deliver an annual projections report on the future 

status of the Single-Employer and Multiemployer 

Programs

• Deliver informal guidance to assist plans that are 

considering requesting early financial assistance from 

PBGC and process plan applications promptly 

• Publish annual pension data to educate stakeholders 

on the Single-Employer and Multiemployer Programs 

• Educate and inform the multiemployer community on 

the effects of the insolvency of the multiemployer 

program

• Monitor all multiemployer plans that receive financial 

assistance and maintain rigorous audit standards to 

ensure accurate benefit payments to plan participants, 

efficient management of any remaining assets and 

compliance with laws and regulations

Performance Strategy:

• Research and forecast insurance program 

activities 

• Provide timely, concrete and practical guidance 

to plans on the implementation of mergers, 

partitions and alternate withdrawal liability 

proposals to reduce employer risk, while 

preserving plans and benefits 

• Provide technical assistance, analysis, and 

options to policy makers and Congress to 

improve the financial stability of the 

Multiemployer Program

• Continue to provide financial assistance to 

insolvent multiemployer plans

• Deliver confidential technical assistance, data 

tables, and the Projections Report to Congress 

and stakeholders

• Maximize stakeholder education and outreach 

through frequent and regular meetings with 

stakeholders 

• Provide data-driven communications to 

stakeholders based on the latest pension research 

data 

• Inform practitioners and other stakeholders of 

key new regulations through speaking 

engagements at stakeholder conferences and 

meetings
PENSION BENEFIT GUARANTY CORPORATION

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Strategic Goal 2

Pay Pension Benefits on Time and Accurately

Strategic Objectives Performance Strategies

5. Promote exceptional customer 

service to pensioners 

• Maintain exemplary customer satisfaction ratings

6. Ensure regular monthly benefit 

payments continue without 

interruption

• Continue uninterrupted benefit payments in newly trusteed plans 

7. Provide accurate and timely benefit 

calculations

• Process benefit applications timely

• Improve the accuracy, timeliness, and completeness of benefit 

determinations 

• Provide a timely and efficient appeals process for PBGC benefit 

determinations

Goal Leader: Chief of Benefits Administration / General Counsel

Performance Area ($ in thousands) FY 2019 FY 2020 FY 2021

Pension Plan Termination Total Funding 188,353 204,518 208,629

Total FTE 322 328 328

Customer Service activities support Strategic Objective 5 (Promote exceptional customer service to pensioners) by 

operating a call center and web portal to respond to requests for assistance and provide useful information for 

pension plan participants. Results are measured through the following Performance Goals, Strategies and 

Measures.

Performance Goal:

• Achieve a score of 90 or higher on PBGC’s 

retiree and beneficiary customer satisfaction 

survey

Performance Strategy:

• Maintain exemplary customer satisfaction ratings

Performance Measure & Targets FY 2017 

Result

(Target)

FY 2018

Result 

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Customer satisfaction rating for retirees and 

beneficiaries receiving benefits

91

(90)

89 

(90)

91

(90)

(90) (90)

What actions will you take in FY 2021 to achieve the targets described above?

• N/A

Benefit Administration activities support Strategic Objective 6 (Ensure regular monthly benefit payments continue 

without interruption) by processing benefit applications as they are received. Results are measured through the 

following Performance Goals, Strategies and Measures.

Performance Goal:

• Approve benefit applications within 45 days 

87% of the time

Performance Strategy:

• Process benefit applications timely

Performance Measure & Targets FY 2017 

Result

(Target)

FY 2018

Result 

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Benefit applications approved within 45 days

87%

(87%)

91%

(87%)

90%

(87%)

(87%) (87%)

What actions will you take in FY 2021 to achieve the targets described above?
PENSION BENEFIT GUARANTY CORPORATION

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• Regular monitoring of applications in process

Final Benefit Determination activities support Strategic Objective 7 (Provide accurate and timely benefit 

calculations) by estimating initial benefit amounts when pension plans are trusteed as well as reviewing pension 

plan records to determine the final benefit and issuing a Benefit Determination Letter. Results are measured 

through the following Performance Goals, Strategies and Measures.

Performance Goal: 

• Ensure that the average time in years to issue a 

benefit determination (time between trusteeship 

and benefit determination issuance) is 4.5 years

Performance Strategy:

• Improve the timeliness and completeness of benefit 

determinations

Performance Measure & Targets FY 2017 

Result

(Target)

FY 2018

Result 

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Average time (years waiting) to issue benefit 

determinations (between trusteeship and benefit 

determination issuance)

6.2 

(6.5)

6.1

(6.0)

5.6

(5.5)

(5.5) (5.0)

What actions will you take in FY 2021 to achieve the targets described above?

• Prioritize plans based on age and size, assign resources and monitor the progress

Initial Benefit Estimation activities support Strategic Objective 7 (Provide accurate and timely benefit calculations) 

by estimating initial benefit amounts when pension plans are trusteed as well as reviewing pension plan records to 

determine the final benefit and issuing a Benefit Determination Letter. Results are measured through the following 

Performance Goals, Strategies and Measures.

Performance Goal:

• Provide estimated benefits within 10 percent of the 

final benefit determination 95% of the time 

Performance Strategy:

• Improve the accuracy of benefit determinations

Performance Measure & Targets FY 2017 

Result

(Target)

FY 2018

Result 

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Estimated benefits within 10 percent of final benefit 

determination

93% 

(95%)

93%

(95%)

96%

(95%)

(95%) (95%)

What actions will you take in FY 2021 to achieve the targets described above?

• Traditionally, benefit estimates have been close to the target of 95%. Continue to monitor estimated benefits to assure 

accuracy

The Appeals Program supports Strategic Objective 7 (Provide accurate and timely benefit calculations) by 

providing Appeals Board decisions on appeals and written explanations on all other inquiries that do not qualify as 

appeals. Results are measured through the following Performance Goals, Strategies and Measures.

Performance Goal:

• Resolve appeals quickly and fairly

Performance Strategy:

• Provide a timely and efficient appeals process for PBGC 

benefit determinations

Performance Measure & Targets

FY 2017 

Result

(Target)

FY 2018

Result 

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Percentage of appeals resolved within 

365 days

N/A N/A 98% (90%) TBD based on end of 

FY 2020 Inventory
PENSION BENEFIT GUARANTY CORPORATION

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What actions will you take in FY 2021 to achieve the targets described above?

• The Appeals Division has a fixed staff with a fluctuating workload. In any given year, if the number of appeals onhand as of October 1st is high, then so will be the number of incoming appeals over the course of the new fiscal year. 

Based on current inventory and expected FY 2020 incoming appeals, the FY 2020 target of closing 90% of all appeals 

in 365 days is achievable. The FY 2021 target must remain TBD until at least the 3rd quarter of FY 2020

Strategic Goal 3

Maintain High Standards of Stewardship and Accountability

Strategic Objectives Performance Strategies

8. Provide exceptional customer service • Maintain exemplary customer satisfaction ratings

9. Meet or exceed the financial and ethical 

standards that apply to PBGC as a major 

financial and government institution, and 

monitor cash flows

• Manage investments prudently consistent with investment 

policy 

• Collect insurance premiums due 

• Continue to monitor the efficient use of PBGC’s cash flows 

10. Maintain effective IT Security • Maintain adequate IT security posture based on FISMA 

guidance and as measured by FISMA metrics 

11. Maintain a high performing workforce • Retain and train a highly skilled multidisciplinary workforce

• Foster a diverse, high-performing workforce 

• Support supervisors and managers on managing employee 

performance

12. Encourage and support a diverse and inclusive 

work environment that encourages employee 

engagement

• Foster a culture of inclusion that encourages collaboration, 

flexibility and fairness 

13. Strengthen enterprise risk management • Implement enterprise risk management strategies 

14. Strengthen transparency, disclosure and 

communication

• Provide effective and timely communication with plan 

participants and other stakeholders 

• Inform stakeholders about provisions of key regulatory 

proposals and enacted legislative changes

15. Strengthen contractor oversight to reduce 

enterprise-wide risks

• Implement an enterprise-wide plan to improve contract 

oversight 

Goal Leaders: Chief Management Officer / Chief Financial Officer / Chief Information Officer / General Counsel / 

Chief Policy Officer

Performance Area ($ in thousands) FY 2019 FY 2020 FY 2021

Operational Support Total Funding 165,126 156,869 167,782

Total FTE 420 410 410

Customer Service measurement activities support Strategic Objective 8 (Provide exceptional customer service) by 

responding to requests for service and information from pension plan sponsors as well as providing online tools 

for plan sponsors. Results are measured through the following Performance Goals, Strategies and Measures.

Performance Goal(s): Performance Strategy:

• Maintain exemplary customer satisfaction ratings
PENSION BENEFIT GUARANTY CORPORATION

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• Achieve 80 or higher customer satisfaction score 

on PBGC’s online premium filing tool, MyPAA, 

by FY 2022

• Achieve 74 or higher on PBGC’s premium filer 

customer satisfaction survey by FY 2022 

Performance Measures & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

PBGC’s actions result in satisfaction scores which meet or 

exceed targets for MyPAA online survey

85

(79)

84

(80)

79

(80)

(80) (80)

PBGC’s actions result in satisfaction scores which meet or 

exceed targets for Premium Filer survey

77

(73)

76

(74)

74

(74)

(74) (74)

What actions will you take in FY 2021 to achieve the targets described above?

• Continue use of existing customer service best practices.

Customer Service Response activities supports Strategic Objective 8 (Provide exceptional customer service) by 

responding to requests for service and information from pension plan participants as well as providing online 

tools for plan participants. Results are measured through the following Performance Goals, Strategies and 

Measures.

Performance Goal(s):

• Achieve 83 or higher on PBGC’s Customer Satisfaction 

survey by FY 2022

• Achieve 77 or higher on PBGC’s MyPBA customer 

satisfaction survey by FY 2022

• Achieve 83 or higher on PBGC’s participant caller 

customer satisfaction survey by FY 2022

Performance Strategy:

• Maintain exemplary customer satisfaction 

ratings

Performance Measure & Targets FY 2017 

Result

(Target) 

FY 2018 

Result 

(Target

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

PBGC’s actions result in satisfaction scores which meet or 

exceed targets for Customer Satisfaction Survey

71 70 73

(80)

(TBD) (TBD)

PBGC’s actions result in satisfaction scores which meet or 

exceed targets for MyPBA Customer Satisfaction Survey

76

(77)

77

(77)

77

(77)

(77) (77)

PBGC’s actions result in satisfaction scores which meet or 

exceed targets Participant Caller survey

83

(83)

84

(85)

84

(85)

(85) (85)

What actions will you take in FY 2021 to achieve the targets described above?

• Regular monitoring of customer service delivery
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Financial Operations activities support Strategic Objective 9 (Meet or exceed the financial and ethical standards 

that apply to PBGC as a major financial and government institution and monitor cash flows) by producing 

financial statements. Results are measured through the following Performance Goals, Strategies and Measures.

Performance Goal:

• Attain an unmodified audit opinion on 

annual financial statements

Performance Strategy:

• Collect insurance premiums due

• Continue to monitor the efficient use of PBGC’s cash flows

Performance Measures & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

PBGC’s actions will result in an unmodified Financial 

Statement Audit

Yes Yes Yes

(Yes)

(Yes) (Yes)

What actions will you take in FY 2021 to achieve the targets described above?

• N/A

Corporate Controls and Review activities support Strategic Objective 9 (Meet or exceed the financial and ethical 

standards that apply to PBGC as a major financial and government institution and monitor cash flows) by 

providing a written report on results of Improper Payment Risk Assessment for selected payment streams. Results 

are measured through the following Performance Goals, Strategies and Measures.

Performance Goal:

• Comply with the Improper Payments Elimination 

and Recovery Act of 2010, to prevent, detect and 

recover improper payments

Performance Strategy:

• Maintain a robust control environment that will 

prevent, detect and recover improper payments

Performance Measure & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

PBGC’s actions result in compliance with Improper 

Payments Elimination and Recovery Act N/A N/A

Complia

nce with 

Improper 

Payments 

Eliminati

on and 

Recovery 

Act of 

2010

(Complia

nce with 

Improper 

Payments 

Eliminati

on and 

Recovery 

Act of 

2010)

(Complian

ce with 

Improper 

Payments 

Eliminatio

n and 

Recovery 

Act of 

2010)

What actions will you take in FY 2021 to achieve the targets described above?

• Conduct improper payments risk assessment on selected payment streams

Corporate Investment activities support Strategic Objective 9 (Meet or exceed the financial and ethical standards 

that apply to PBGC as a major financial and government institution and monitor cash flows) by providing 

investment management services for plans trusteed by the PBGC and for assets managed by the Corporation. 

Results are measured through the following Performance Goals, Strategies and Measures.

Performance Goal:

• Comply with the asset allocation set forth in the 

Investment Policy Statement

• Conduct quality due diligence on the PBGC 

investment portfolios

Performance Strategy:

• Manage investments prudently and consistent with 

investment policy
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Performance Measure & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

PBGC’s actions result in compliance with asset allocation 

listed in current Investment Policy Statement

N/A Yes

(Yes)

Yes

(Yes)

(Yes) (Yes)

What actions will you take in FY 2021 to achieve the targets described above?

• N/A

Information Technology Security activities support Strategic Objective 10 (Maintain effective IT Security) by 

producing Annual and quarterly FISMA reports, “Managing Risk” ratings for Cybersecurity Framework (CSF) 

functions (Identify, protect, detect, respond and recover), operationalizing an insider-threat program and 

automating ICAM functions. Results are measured through the following Performance Goals, Strategies and 

Measures.

Performance Goal:

• Achieve “Managing Risk” on OMB’s Annual 

FISMA Report Cybersecurity Risk Management 

Assessment (RMA)

• Achieve 90% or higher overall average on the 

Cybersecurity Cross-Agency Priority (CAP) 

goals

• Maintain or exceed “Level 3: Consistently 

Implemented Rating” on the OIG Cybersecurity 

Framework Functions

Performance Strategy:

• Maintain adequate IT security posture based on NIST 

guidance and as measured by FISMA metrics

• Ensure on-going authorization of all FISMA reportable 

system by overseeing information security continuous 

monitoring (ISCM)

• Implement, identify, and credential access management 

(ICAM) solutions

Performance Measure & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

OMB Risk Management Assessment (RMA) N/A Yes

(Yes)

Managing 

Risk

(Yes)

(Managing 

Risk)

(Managing 

Risk)

What actions will you take in FY 2021 to achieve the targets described above?

• Establish a contingency plan

• Conduct independent control assessment of the established ISCM/Core-controls
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Equal Employment Opportunity activities support Strategic Objective 12 (Encourage and support a diverse and 

inclusive work environment that encourages employee engagement) by assisting in the eradication of employment 

discrimination, improving diversity in the workplace, and creating an environment where all PBGC employees are 

valued, respected, and free to develop and perform to their fullest potential. Results are measured through the 

following Performance Goals, Strategies and Measures.

Performance Goal:

• Achieve an increase in Persons with Disabilities 

and Targeted Disabilities, Asian, Black and 

Hispanic Representation in GS-15 and SL 

positions by 1- 2% within 3 years for each 

category, per the EEOC’s benchmark of having 

grade representation more reflective of the 

representation in the agency’s total workforce

• Continue to conduct YOUniversity Bias Training to 

create opportunities for individuals to investigate 

their bias and to understand bias’s impact on equal 

employment opportunity

• Foster a culture of inclusion that encourages 

understanding, collaboration, fairness, and equal 

opportunity

• Continue to develop programs and trainings that will 

provide PBGC’s workforce with information that 

will assist with career development

Human Resources activities support Strategic Objective 11 (Maintain a high performing workforce) through 

recruitment and retention of a highly skilled and diverse workforce; train leaders who can properly address 

employee performance and misconduct and operate a comprehensive Work Life and Wellness Program. Results 

are measured through the following Performance Goals, Strategies and Measures.

Performance Goal(s):

• Recruit a diverse workforce

• Train supervisors and managers on managing employee 

performance and conduct

• Ensure employee relations specialists are proficient in the 

Performance Management and Employee and Labor 

Relations Programs

• Maintain a robust Management and Leadership Training 

Program

• Increase participation in Work Life and Wellness Programs

• Achieve a diverse and inclusive work environment

Performance Strategy:

• Attend job fairs and visit colleges and 

universities

• Support supervisors and managers on 

managing employee performance and conduct

• Provide managers with necessary leadership 

tools and training 

• Promote and encourage Work Life and 

Wellness activities 

• Foster a culture of inclusion that encourages 

collaboration, flexibility, and fairness

Performance Measures & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Conduct a minimum of two performance and employee 

conduct trainings

N/A 2

(2)

8

(2)

(2) (2)

Participate in a minimum of two targeted job fairs N/A 2

(2)

2

(2)

(2) (2)

Provide work life balance and wellness events N/A 26

(20)

42

(20)

(25) (25)

What actions will you take in FY 2021 to achieve the targets described above?

• Increase marketing and training on the Telework Program

• Automate management training on addressing employee performance and conduct 

• Continue participating in outreach recruitment activities
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Performance Measure & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Increase gradually – 1⁄2% each year until grade 

representation for these groups increase in GS-15 and SL

Yes

(Yes)

Yes

(Yes)

Yes

(Yes)

(Yes) (Yes)

What actions will you take in FY 2021 to achieve the targets described above?

• Continue to conduct barrier analysis to identify potential barriers to equal employment opportunity

• Continue to leverage affirmative employment committees to develop programs that support professional 

development of diverse groups 

• Continue to be proactive in mitigating complaints by providing EEO trainings that inform and educate

Enterprise Risk Management activities support Strategic Objective 13 (Strengthen enterprise risk management) 

by maintaining an Entity-wide Risk Profile, an Entity-wide Risk Register, a Key Risk Indicators Dashboard and 

promoting ERM Integration with budget, organizational performance and strategic planning. Results are 

measured through the following Performance Goals, Strategies and Measures.

Performance Goal(s):

• Implement OMB A-123 enterprise risk management 

requirements

Performance Strategy:

• Implement enterprise risk management 

strategies 

Performance Measures & Targets FY 2017 

Result 

(Target)

FY 2018

Result

(Target)

FY 2019 

Result

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Identification of emerging entity-wide risks in a timely 

manner

N/A N/A N/A

(Increased 

identificatio

n of 

emerging 

entity-wide 

risks in a 

timely 

manner)

(Increased 

identificat

ion of 

emerging 

entitywide risks 

in a 

timely 

manner)

Continued knowledge sharing related to risks

N/A N/A N/A

(Increase in 

riskinformed 

decisionmaking)

(Increase 

in riskinformed 

decisionmaking)

Constant vigilance to foster risk culture

N/A N/A N/A

(Continued 

communica

tion 

regarding 

ERM)

(Continue

d 

communic

ation 

regarding 

ERM)

What actions will you take in FY 2021 to achieve the targets described above?

• Conduct entity-wide risk assessment

• Work with business owners to identify and review key risk indicators and emerging risks

• Include risks as key input for strategic planning and organizational performance processes

• Include risks as a consideration and decision criteria for budget decisions
PENSION BENEFIT GUARANTY CORPORATION

PBGC - 27

External Corporate Internet Program activities support Strategic Objective 14 (Strengthen transparency, 

disclosure and communication) by providing online tools for plan participants and plan sponsors and continuing 

to enhance the website experience for the general public, plan participants and sponsors. Results are measured 

through the following Performance Goals, Strategies and Measures.

Performance Goal(s):

• Achieve a score of 78 or higher on PBGC’s 

website customer satisfaction survey by FY 

2022

• Research and implement improvements each 

year to PBGC’s communications (including 

PBGC.gov) in response to customer feedback 

and key performance indicators (surveys, etc.) 

Performance Strategy:

• Engage with employers, workers and pension 

practitioners to encourage pension plan continuation 

and strengthen retirement security

• Maintain exemplary customer satisfaction ratings

• Provide effective and timely communication with 

plan participants and other stakeholders 

Performance Measures & Targets FY 2017 

Result 

(Target)

FY 2018 

Result 

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

A target level number of improvements to the usability 

and content of PBGC.gov per year

N/A N/A N/A

New 

Measure

(6) (8)

PBGC’s actions result in satisfaction scores which meet 

or exceed targets website customer satisfaction online 

survey

72

(75)

75

(75)

75

(75)

(75) (75)

What actions will you take in FY 2021 to achieve the targets described above?

• Research and implement at least eight targeted improvements per year to agency communications (including in 

response to customer feedback and key performance indicators (surveys, etc.)) 

Procurement and Acquisition activities support Strategic Objective 15 (Strengthen contractor oversight to reduce 

enterprise-wide risks) by providing resources for the PBGC acquisition community to strengthen contractor 

oversight. Results are measured through the following Performance Goals, Strategies and Measures.

Performance Goal:

• Implement an enterprise-wide plan to 

improve contract oversight

Performance Strategy:

• Implement ongoing activities and training to streamline and 

improve contractor oversight

Performance Measure & Targets FY 2017 

Result 

(Target)

FY 2018 

Result 

(Target)

FY 2019 

Result 

(Target)

FY 2020 

(Target)

FY 2021 

(Target)

Number of activities and streamlined guidance 

implemented

N/A 5

(5)

16

(5)

(5) (5)

What actions will you take in FY 2021 to achieve the targets described above?

• Provide continuous training and communication for and between Contract Officers (COs) and Contract Officers 

Representatives (CORs)
PENSION BENEFIT GUARANTY CORPORATION

PBGC - 28

OPERATIONS IN BRIEF 

FY 2019 OPERATIONS IN BRIEF

Target 2019 2018

GOAL 1: Preserve Plans and Protect Pensions

Participants Protected in Single-Employer Plans 

Sponsored by Employers Emerging from 

Bankruptcy

12,000 52,000

Standard Termination Audits of Single-Employer 

Plans: Additional Payments

$5.1 M paid to 

993 people

$12.2 M paid to 

4,157 people

Single-Employer Participants Receiving Benefits 932,000 861,000

Single-Employer Participants to Receive Benefits 

in the Future 591,000 532,000

Multiemployer Participants Receiving Benefits 66,900 62,300

Multiemployer Participants to Receive Benefits in 

the Future 27,300 27,800

GOAL 2: Pay Timely and Accurate Benefits

Estimated Benefits Within 10% of Final 

Calculation 95% 96% 93%

Average Time to Provide Benefit Determinations 

(Years) 5.5 5.6 6.1

Improper Payment Rates Within OMB 

Threshold5F

6 <1.5% Yes Yes

Applications Processed in 45 Days 87% 90% 91%

GOAL 3: Maintain High Standards of Stewardship and Accountability

Retiree Satisfaction – ACSI6F

7 Score 90 91 89

Caller Satisfaction – ACSI Score 85 84 84

Premium Filer Satisfaction – ACSI Score 74 74 76

Overall Customer Satisfaction7F

8 Score 80 73 77

Financial Net Position – Single-Employer $8.7B $2.4B

Financial Net Position – Multiemployer ($65.2B) ($53.9B)

Unmodified Financial Statement Audit Opinion Yes Yes Yes

6 The OMB threshold for significant improper payment reporting is as follows: amounts that exceed (1) both 1.5 percent and $10 million in improper 

payments, or (2) $100 million in improper payments. 

7 The American Customer Satisfaction Index (ACSI) uses a 0-100 scale; 80 or above is considered excellent.

8 This measures customer satisfaction with information and services provided by the Corporation.