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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

### 2019

                                -  Aug21  Key PBGC Leadership Appointments
WASHINGTON – The Pension Benefit Guaranty Corporation is pleased to announce the appointments of Kristin Chapman as Chief of Staff and Andy Banducci as Chief Policy Officer.
- Press Release:                       19-10 
 

                                -  Aug6  PBGC Projections: Multiemployer Program Remains in Dire Financial ConditionSingle-Employer Program Shows Continued Improvement
WASHINGTON  –  The Pension Benefit Guaranty Corporation’s Multiemployer Insurance Program continues on the path to running out of money by the end of fiscal year 2025, according to findings in the FY 2018 Projections Report. The agency’s insurance program for multiemployer pensions covers over 10 million people.
- Press Release:                       19-09 
 

                                -  Jul24  PBGC Director Gordon Hartogensis Issues Statement 
Multiemployer pension plans are in crisis, posing a threat to the promised retirement income of millions of American workers and retirees and their families. Congress should enact a long-term, sustainable solution taking into account fairness to retirees, workers, taxpayers, and employers, to improve retirement security for hard-working Americans and their families.
- statement:                       04 
 

                                -  Jun21  President Names PBGC Advisory Committee Members
WASHINGTON – President Donald J. Trump has appointed the following members to serve on the Advisory Committee of the Pension Benefit Guaranty Corporation:
- Press Release:                       19-08 
 

                                -  Jun14  PBGC Announces Legal Appointment
WASHINGTON – The Pension Benefit Guaranty Corporation is pleased to announce an appointment in the Office of the General Counsel. Paul Chalmers has been named Deputy General Counsel for the General Law & Operations Department.  

Chalmers, previously an Associate General Counsel, joined PBGC’s legal team in 2012.
- Press Release:                       19-07 
 

                                -  May16  Gordon Hartogensis Sworn in as PBGC Director
WASHINGTON – On Wednesday, May 15, 2019, Gordon Hartogensis was sworn in as the 16th director of the Pension Benefit Guaranty Corporation.

“I am honored to serve in this important role,” Hartogensis said. “I am looking forward to working with Congress, the Administration and stakeholders to protect and advance the retirement security of the nearly 37 million Americans we insure.”

Hartogensis succeeds Tom Reeder, who served as director from October 2015 – May 2019.
- Press Release:                       19-06 
 

                                -  May1  PBGC Announces Leadership Appointment
WASHINGTON – The Pension Benefit Guaranty Corporation is pleased to announce the appointment of Franklin Pace as the Director of the Corporate Controls and Reviews Department (CCRD) in the Office of the Chief Financial Officer. 
- Press Release:                       19-05 
 

                                -  Mar19  PBGC Announces Legal Appointment
WASHINGTON – The Pension Benefit Guaranty Corporation is pleased to announce an executive appointment in the Office of the General Counsel. Daniel Liebman has been appointed Deputy General Counsel for the Program Law & Policy Department. 

Liebman, previously the Assistant General Counsel for Legal Policy, joined PBGC in 2010 as a regulatory attorney. He has also served as Acting Assistant General Counsel for Regulatory Affairs.
- Press Release:                       19-04 
 

                                -  Feb7  PBGC and Sears Reach an Agreement
WASHINGTON –The Pension Benefit Guaranty Corporation has reached an agreement with Sears Holdings Corporation under which the agency will withdraw its objection to the proposed sale of Sears’ assets to ESL Investments.

This agreement also clears the way for PBGC to assume responsibility for Sears’ two pension plans, which are covered under PBGC’s Single-Employer Insurance Program. 
- Press Release:                       19-03 
 

                                -  Jan23  Israel Goldowitz Retires from PBGC
WASHINGTON – Israel (“Izzy”) Goldowitz, the Pension Benefit Guaranty Corporation’s Deputy General Counsel for Program Law & Policy, has retired from public service following a 30-year career at the agency.
- Press Release:                       19-02 
 

                                -  Jan18  PBGC to Pay Pension Benefits for Employees and Retirees at Sears and Kmart
WASHINGTON — The Pension Benefit Guaranty Corporation is taking steps to assume responsibility for Sears Holdings Corporation’s two defined benefit pension plans, which cover about 90,000 people. The national retail chain headquartered in Hoffman Estates, Illinois, operates through its subsidiaries, which include Sears, Roebuck and Co. and Kmart Corporation.
- Press Release:                       19-01 
 

### 2018

                                -  Nov27  PBGC Announces Leadership Appointments
WASHINGTON - The Pension Benefit Guaranty Corporation announced four key appointments to its leadership team: 
- Press Release:                       18-10 
 

                                -  Nov20  PBGC to Provide Early Financial Assistanceto Local 805 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 Teamsters Local 805 Pension and Retirement Plan (Local 805 Plan), a trucking industry multiemployer pension plan based in New York that covers approximately 2,000 participants.
- Press Release:                       18-09 
 

                                -  Nov16  PBGC Reports Improved Financial ConditionSingle-Employer Program Emerges from Deficit; Multiemployer Program Narrows Deficit – Insolvency Still Looms
WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation’s Fiscal Year 2018 Annual Report, released today, shows improvement in the financial condition of the agency’s Single-Employer Insurance and Multiemployer Insurance Programs.   
- Press Release:                       18-08 
 

                                -  Oct26  PBGC Announces Leadership Appointments
WASHINGTON - The Pension Benefit Guaranty Corporation announced two key appointments to its leadership team. Janice Brown-Taylor has been named Deputy Chief of Benefits Administration and Michael Hutchins is the Director for the Plan Asset & Data Management Department.
- Press Release:                       18-07 
 

                                -  Oct22  PBGC Guarantee Limit for Single-Employer Plans Increases for 2019
﻿﻿﻿WASHINGTON - The Pension Benefit Guaranty Corporation announced today the guarantee limits for single-employer plans that fail in 2019. The table below shows those limits for sample ages and forms of payment.
- Press Release:                       18-06 
 

                                -  Oct15  PBGC Statement on Sears Bankruptcy Filing
The Pension Benefit Guaranty Corporation’s mission is to protect the pension benefits of American workers and retirees in private sector pension plans. When pension plans terminate with insufficient funds, PBGC’s guarantee is critical to protecting the participants’ retirement security.
- Press Release:                       18-05 
 

                                -  Oct15  PBGC Statement on Sears Bankruptcy Filing
The Pension Benefit Guaranty Corporation’s mission is to protect the pension benefits of American workers and retirees in private sector pension plans. When pension plans terminate with insufficient funds, PBGC’s guarantee is critical to protecting the participants’ retirement security. See Questions and Answers for Participants in the Sears Holdings Corporation Pension Plans. 
- statement:                       03 
 

                                -  Sep26  David Foley Appointed Chief of Benefits Administration
WASHINGTON - The Pension Benefit Guaranty Corporation announced the appointment of David Foley as Chief of Benefits Administration, where he will lead efforts to advance PBGC’s commitment to pay accurate and timely benefits to retirees and beneficiaries.

“David has served in senior leadership positions at PBGC and other federal agencies,” said PBGC Director Tom Reeder. “This makes him an excellent choice to lead our benefits office, which carries out a vital aspect of our mission.”
- Press Release:                       18-04 
 

                                -  Sep13  PBGC Finalizes Guidance on Mergers and Transfers Between Multiemployer Plans
WASHINGTON - The Pension Benefit Guaranty Corporation is issuing rules to implement its authority to facilitate mergers of multiemployer pension plans. Mergers of multiemployer plans can help protect the benefits earned by workers and retirees and extend the solvency of troubled plans. This rulemaking also updates the general rules on plan mergers and transfers.
- Press Release:                       18-03 
 

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