is pension benefit guaranty corporation government controlled
Dear John Doe: The Pension Benefit Guaranty Corporation (PBGC), a U.S. Government agency, is now. responsible for your pension plan. PBGC insures private pension plans like yours and. protects the benefits of workers and retirees covered by those plans. If a plan ends after a. sponsoring employer has failed to put in enough money to pay all promised benefits, PBGC. steps in to pay benefits, up to the limits set by Congress.