What does the Pension Benefit Guaranty Corporation do?
The Pension Benefit Guaranty Corporation (PBGC) is a federal agency responsible for protecting the retirement incomes of American workers in private-sector defined benefit pension plans. The agency's primary mission is to ensure that participants in these pension plans receive their promised benefits. PBGC operates two insurance programs: one for single-employer pension plans and another for multiemployer pension plans, providing financial assistance and directly paying benefits to retirees when necessary. It was established in 1974 under the Employee Retirement Income Security Act.
$11.9B
0.2%
How much does the Pension Benefit Guaranty Corporation spend?
The Pension Benefit Guaranty Corporation accounted for 0.2% of all federal spending in FY 2024.
Share of Pension Benefit Guaranty Corporation net spending compared to the top ten highest spending agencies in FY 2024
The Pension Benefit Guaranty Corporation’s federal spending in FY 2024 was higher than in FY 1980.
Yearly federal net spending by Pension Benefit Guaranty Corporation, adjusted for inflation (2024 dollars), FYs 1980–2024
The Pension Benefit Guaranty Corporation's share of federal spending in FY 2024 was higher than in FY 1980.
Percentage of federal budget dedicated to Pension Benefit Guaranty Corporation, FYs 1980–2024
How did the Pension Benefit Guaranty Corporation spend its budget in 2024?
Federal government net spending isolated to Pension Benefit Guaranty Corporation, FY 2024
How many people work for the Pension Benefit Guaranty Corporation?
The number of federal employees working for the Pension Benefit Guaranty Corporation has increased 3.3% since 2010.
Number of federal employees working for , September 2010–2024
Who leads the Pension Benefit Guaranty Corporation?
The PBGC is led by a Director. The Director is nominated by the President and confirmed by the Senate. The Director serves at the discretion of the President and typically remains in the position until they resign, are replaced, or a new President appoints a different individual to the role.
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
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USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.