Pension Benefit Guaranty News

The move comes after years of struggles in which the organization that gives treatment to troubled and autistic children laid off workers and missed debt payments.

Citing retirement plans that are underfunded by "over $235 million," the federal Pension Benefit Guaranty Corp.

OCTOBER 18: Members of the Occupy Wall Street community join Teamsters in front of the auction house Sotheby's to protest the lockout of union art handlers in a contract dispute on October 18, 2011 in New York City.

Ormet Corp. employees should learn Wednesday if the company's sale to a subsidiary of Wayzata Investment Partners for $221 million will be finalized.

A crowd protests the impending closure of the Hospital Center at Orange in 2003, in this file photo.

Unlike government pensions, though, there are no guarantees. If a company with an underfunded pension plan goes bankrupt and the plan is terminated, a federal agency called the Pension Benefit Guaranty Corporation steps in.

Joshua Gotbaum, director of the Pension Benefit Guaranty Corp, is one of the financial experts who took part in a discussion on changes to the nation's pension system and their impact on labor and business.Bloomberg .. Read More Joshua Gotbaum, director of the Pension Benefit Guaranty Corp, is one of the financial experts who took part in a ... (more)

On April 3, 2013, the Pension Benefit Guaranty Corporation issued a proposed rule amending its existing reportable events rule that it expects will exempt more than 90 percent of pension plans and sponsors from many PBGC reporting requirements, while also simplifying reporting requirements for those companies and plans that must report.

The Obama administration has again proposed giving the federal Pension Benefit Guaranty Corp.

Mr. Griffin replaces Philip Langham , who became director of the Pension Benefit Guaranty Corp.'s benefits and payments department in September 2012.