The Pension Benefit Guaranty Corporation (PBGC) protects the retirement incomes of nearly 44 million American workers in more than 29,000 private-sector defined benefit pension plans. A defined benefit plan provides a specified monthly benefit at retirement, often based on a combination of salary and years of service. PBGC was created by the Employee Retirement Income Security Act of 1974 to encourage the continuation and maintenance of private-sector defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at a minimum. Defined benefit pension plans promise to pay a specified monthly benefit at retirement, commonly based on salary and years on the job.
In these unsettling times, if you have questions regarding your pension plan, call 1-800-400-7242 or (202) 326-4000. PBGC Customer Contact Center hours are 8 a.m. to 7 p.m. Eastern Time, Monday - Friday (except Federal holidays). TTY/TDD users call the federal relay service at (800) 877-8339 and ask to be connected to (800) 400-7242.
