Skip to main content

About PBGC

PBGC Blog: Retirement Matters

That's right, National Save for Retirement Week is here!

While we encourage you to save for retirement throughout the entire year, this week is specifically devoted to bringing awareness to the importance of retirement security. And this week, you are encouraged to revisit your personal retirement goals to determine if you are on target to reaching those goals.

Not sure where to begin? No problem! Take advantage of the National Save for Retirement Week webinar series, which covers a variety of topics for all career levels. You can also create a customized retirement savings plan, using retirement calculators, to help you better understand your financial picture.

Don't have much room in your paycheck? Small changes make a big difference, too. Have you ever wondered how much you can save by packing a lunch? Let's just say those lunch trips to your favorite eatery can set you back tremendously over time. So on Wednesday, Oct. 22, 2014, participate in National Pack-A-Sack Lunch Day and see how this small step can make a big change in your financial future.

We hope this information will either help get the retirement conversation started or keep it going. With just a few small steps, you can see big changes in your retirement savings. And when it comes to saving for retirement, remember to dream big.

Hispanic Heritage Month

Each year, on September 15, we celebrate the start of National Hispanic Heritage Month. During this celebration, which runs through October 15, we recognize the significant impact Hispanic and Latino Americans have had on American history. We celebrate their rich culture and countless achievements. And this year's theme, "Hispanics: A legacy of history, a present of action and a future of success," reminds us of their profound impact on American culture. 

In his proclamation, President Obama said our Nation is strengthened when we lift up the Hispanic community. He also said when we create more ladders of opportunity, we provide hope for all Americans to reach their greatest potential.

But when looking at retirement preparedness, Hispanic Americans are often lower on the ladder than the general population.

Although many Americans face difficulty planning for retirement, Hispanic Americans face unique challenges that other minority groups do not. Hispanic Americans typically have less access to employer-provided benefits and contribute less on their own. The reason? Greater emphasis is usually placed on short-term financial security, such as eliminating debt. Saving for retirement is simply not a short-term priority.

More...

We recently created an online resource that provides information to assist with "Making a Choice: Lump Sum or Annuity?"

Many people with a retirement plan face the decision of choosing between an annuity and a lump sum payment to fund their day-to-day life after they stop working. An annuity provides a lifetime steady stream of income whereas a lump sum is a one-time payment.

The new resource page allows you to get some insight on key questions (click on the question for the answer) that should be answered when making this important decision and offers other hypothetical scenarios you may face.

You can also share this new page on our site by using the share icons at the bottom.

Logo: MyPBA

If PBGC is responsible for your pension benefit, the easiest way to transact business with us is through MyPBA, our secure online service.

MyPBA is fast, free, and available to you 24 hours a day, seven days a week. Your online transactions are safe and confidential. You can change your address, sign up for direct deposit, designate your beneficiary, print out your IRS Form 1099-R, and view your payment information.

More...

If you're a participant in a National Steel pension plan, you may have received a communication claiming that PBGC is conducting a general review of the benefit amounts paid to National Steel participants.

Please be assured that this is not the case. PBGC did not send out any such communication, and is not reviewing National Steel benefits.

We are confident that your pension benefit has been determined accurately and that you are receiving the maximum amount you are entitled to under law.

If you have any questions or receive additional false information purporting to come from PBGC, please feel free to contact us at mypension@pbgc.gov or 1-800-400-7242.

Safe Today. Healthy Tomorrow. Older Americans Month 2014.From the Pension Rights Center:

May is Older Americans Month, a time to celebrate the contributions older Americans have made to society — and to focus attention on the many services available to older Americans as part of the Older Americans Act.

The services that the Pension Rights Center is most proud of are those provided by the U.S. Administration on Aging's Pension Counseling and Information Program. The agency offers free legal assistance to people who need help in obtaining the retirement benefits they have earned. The Pension Rights Center provides training and technical assistance to the program's regional pension counseling projects. Since it was launched in 1993, the program has helped retirees and their families obtain more than $190 million in retirement benefits.

Throughout the month, the Pension Rights Center will highlight successful cases handled by the counseling projects.

  • You will read about Vicki, who was shocked when she was told that she wasn't eligible for the pension her husband had told her would be there for her after his death.
  • You'll also read about Bill, who was told that his 15 years of work had earned him only a one-time $500 lump sum, despite the fact that he knew he was entitled to a pension.
  • You'll also read stories about many others who will now receive their pensions as a result of the work of the counseling projects.
  • Finally, you can watch a video about the pension counseling projects that feature just a few of the real people whose lives were forever changed by the Pension Counseling and Information Program.

The Pension Counseling and Information Program provides free legal assistance to individuals in 30 states. To find out if you can be helped by a counseling project, visit http://www.pensionrights.org/find-help.