The US Pension Insurer (PBGC) May Soon Become Insolvent

Another Financial Nightmare On The Horizon - The US Pension Insurer (PBGC) May Soon Become Insolvent by Charles M. Tatelbaum, Tripp Scott PA

It may be hard to believe in today’s environment of increased scrutiny over governmental and private insurers, but the Pension Benefit Guaranty Corporation (PBGC), (similar to the FDIC for federally insured bank accounts) which is the governmental body created to insure the nation’s pension funds, is on the verge of insolvency.  Based on recent developments and the PBGC’s publications, current and future retirees may fall victim to a horrific nightmare.

The PBGC insures both private and multi-employer pension funds in case of the pension funds are underfunded and/or the employer(s) are unable to fund the pension account (such...