Pension Benefit Guaranty Corp
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U.S. Supreme Court PENSION BENEFIT GUARANTY CORP. v. THE LTV CORP., 496 U.S. 633 (1990) 496 U.S. 633
PENSION BENEFIT GUARANTY CORPORATION v. THE L...
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U.S. Supreme Court NACHMAN CORP. v. PENSION BENEFIT GUAR. CORP., 446 U.S. 359 (1980) 446 U.S. 359
NACHMAN CORP. v. PENSION BENEFIT GUARANTY CORPOR...
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WASHINGTON - In an ominous setback, the government agency that insures the pensions of 44 million Americans has amassed a record $33.5 billion deficit - triple what it was just six months ago.
The bleak financial snapshot, in a report obtained by The Associated Press, raises new fears that a federal bailout eventually will be needed for the Pension Benefit Guaranty Corp. The beleaguered agency is being saddled with the underfunded pension plans of companies going bankrupt in the worst economic slump since the Great Depression.
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08-2964-bk
Pension Benefit Guaranty Corp. v. Oneida, Ltd.
UNITED STATES COURT OF APPEALS
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The Pension Benefit Guaranty Corp., the nation's safety net for employer-funded pension plans, insures the retirement benefits of more than 44 million...
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Garth David Wilson (argued), Pension Ben. Guar. Corp., Washington, DC, for Plaintiff-Appellee.
David R. Levin (argued), Wiley, Rein & Fielding, Washi...
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Susan E. Birenbaum (James J. Keightley, General Counsel; William G. Beyer, Deputy General Counsel; Israel Goldowitz, Assistant General Counsel; Garth ...
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WASHINGTON - Last year, the federal government began assuming the pension obligations of 147 private companies when those companies reneged on sometimes longstanding promises to loyal employees.
The Pension Benefit Guaranty Corp., a federal agency, was created in 1974 to assure that retirement income would be available to employees vested in defined benefit pension plans even if the companies that incurred the obligation disappeared or reorganized in bankruptcy and re-emerged without pension liabilities.
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According to , as a result of the enactment of Section 403(b) of the Katrina Emergency Tax Relief Act of 2005, the IRS, the Employee Benefits Security Administration of the Labor Department, and the Pension Benefit Guaranty Corp. are providing additional disaster relief pertaining to the minimum funding standards of certain employee benefit plans.