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PBGC Blog: Retirement Matters
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PBGC will pay retirement benefits for more than 8,500 current and future retirees of The Stanreco Retirement Plan, a pension plan sponsored by Standard Register Co., a printing and marketing communications firm based in Dayton, Ohio.

The agency is stepping in because Standard Register sold the majority of its assets to North Mankato Minn.-based Taylor Corp. in bankruptcy proceedings on June 19, 2015. Taylor isn't assuming responsibility for the pension plan.

The company's plan will officially end on Aug. 31, 2015.

PBGC will pay all pension benefits earned by the plan's retirees up to the legal limit of $60,136 a year for a 65-year-old.

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Open Government at PBGC

  |   August 28, 2015

PBGC's Open Government webpage highlights our commitment to increase transparency, participation and collaboration with our stakeholders. The page includes important PBGC data sets that are used to increase our accountability to the public, and to improve the public's awareness of our operations and how we carry out our mission.

The page also provides information about how the American public can provide input to help make PBGC's performance even better and more engaging. We invite you to review our Open Government Plan [PDF] and principles that shape our commitment to Open Government.

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(L to R) Joyce Mader, Advisory Committee Chair; Regina T. Jefferson, Committee Member; and Alice Maroni, PBGC Acting Director.

Regina T. Jefferson is the newest member of PBGC's Advisory Committee; she was nominated by President Obama on July 15. And today, she attended her first Advisory Committee meeting.

Jefferson is a professor of law at the Catholic University of America where she teaches courses in Federal Income Taxation, ERISA: Pensions Tax Policy, and Partnership Taxation.

"Regina's authority on pension and tax laws, and employee benefits will be a significant addition to the Advisory Committee," said PBGC Acting Director Alice Maroni. "We look forward to working with her in the days ahead."

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On June 29, President Obama signed legislation to extend the Health Coverage Tax Credit (HCTC) through Dec. 31, 2019. The law was enacted as part of the Trade Preferences Extension Act of 2015, Pub. L. 114-27. The HCTC previously expired Dec. 31, 2013.  

The IRS will manage the program again, and when new guidelines are ready, we'll let PBGC participants know how to apply for the tax credit. You'll find the information here, on Retirement Matters, and on PBGC.gov.  

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Today, the Pension Benefit Guaranty Corporation published a request for proposals under a pilot program for smaller asset managers. Proposals are due by Aug. 18, 2015.

The agency will hire up to five managers to invest in a U.S. fixed income portfolio with allocations ranging from $50 million to $250 million.
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The vital role PBGC plays in providing retirement security is highlighted in our 2014 state-by-state pension plan information. As the map shows, our economic reach spans across all 50 states and U.S. Territories. For example, PBGC paid $101 million to retirees in Colorado, and $287 million to retirees in Indiana.

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