Pension Benefit Guaranty Corporation: Need for Improved Oversight Persists
DIANE Publishing, Feb 1, 2009 - 29 pages
The Pension Benefit Guaranty Corp. (PBGC) insures the pension benefits of 44 million private sector workers and retirees in over 30,000 employer-sponsored pension plans. It was reported that PBGC¿s governance structure needed improvements. Congress is considering expanding the board of dir. to include additional members. It was also recommended that the board develop policies and mechanisms consistent with corp. governance practices, and develop formal guidelines to clarify the roles and respon. of the board chair, members, and their rep. This report addresses: the steps PBGC has taken to improve policy direction and oversight; and (2) how Congress applies oversight to PBGC and what other oversight mechanisms exist for gov¿t. corps. Illus.
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2005 Committee additional reporting requirements Appendix audit Benefit Guaranty Corporation benefit pension plan board members board of directors board representatives bylaws challenges facing Committee on Finance Commodity Credit Corporation Congressional Budget Office Congressional Research Service Corporations Have Additional defined benefit pension direction and oversight ERISA Export-Import Bank facing the corporation Federal Advisory Committee federal government corporations Government Accountability Office Guaranty Corporation PBGC health of PBGC House of Representatives improve its governance investment policy Labor List of Selected Millennium Challenge Corporation multiemployer newly appointed Office of Inspector oversight mechanisms oversight of PBGC PBGC director PBGC has taken PBGC officials PBGC’s advisory committee PBGC’s board PBGC’s financial condition Pension Benefit Guaranty pension plan funding Pension Protection Act political risk insurance provide policy direction Railroad Retirement Board related to PBGC Reports and Testimonies Representatives Defined benefit Saint Lawrence Seaway Senate Defined benefit Single-Employer Plan staff Subcommittee Testimonies Related United States Senate Washington