About PBGC

If you receive a direct deposit payment from PBGC, your funds will be deposited on January 2, 2013, one day after the New Year.  If you receive a paper check, and you have not received your paper check by January 7, call us at 1-800-400-7242 or visit our Contact Us page for other contact options.

Want to receive future payments more quickly? Remember, PBGC offers direct deposit.  It's the most secure and fastest way to receive your payment, and your funds are always available on payday — even if the weather's bad, the post office is closed, or you're out of town.  The future electronic direct deposit dates are already mapped out!

To learn more or sign up for direct deposit, call 1-800-400-7242 or visit MyPBA.

Great news: Americans are living longer. Unfortunately pensions haven’t kept up, and people are rightly worried about retirement. PBGC Director Josh Gotbaum today told a National Institute on Retirement Security conference in Washington, D.C., that new types of defined benefit pensions can help solve the problem of retirement insecurity. Plan designs that marry the best features of DBs and 401(k)s offer lifelong income without forcing retirees to be investment experts. Flexibility is key, Gotbaum said. “One size doesn’t fit all. We in government can do everything in our power to facilitate new plans and eliminate regulatory requirements that burden employers without helping workers and retirees.”

On February 1, 2012, American Airlines announced it would seek to terminate all four of its pension plans.  But the law is clear:  If the company wants to end the plans, it must prove its case. 

Here’s a fact sheet that clears up some big misconceptions: http://www.pbgc.gov/wr/other/pg/american-airlines-pensions--get-the-facts.html

Here’s a Chicago Tribune story based on an interview with PBGC Director Josh Gotbaum:  Pension insurer doubts need of American Airlines parent to terminate defined benefit plans