[Excerpt] The Pension Benefit Guaranty Corporation (PBGC) was established by the Employee Retirement Income Security Act of 1974 (ERISA) to ensure that participants in defined benefit pension plans receive their pensions if their plans terminate without sufficient assets to pay promised benefits. PBGC administers separate insurance programs to protect participants in single-employer and multiemployer plans.
PBGC has published the Pension Insurance Data Book annually since 1996 to present detailed statistics on PBGC program operations and benefit protections.
This edition of the Pension Insurance Data Book contains one short article that describes the characteristics of PBGC-insured plans that completed a standard termination during Fiscal Year 2007.
The Data Book is available on the PBGC’s Web site at: www.pbgc.gov/publications/databook.