Who we are

Mission statement

The Pension Benefit Guaranty Corporation (PBGC) was created by the Employee Retirement Income Security Act of 1974 to encourage the continuation and maintenance of private sector defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at a minimum.

PBGC currently protects the retirement security of about 31 million American workers in private sector pension plans.

For more information about PBGC’s insurance programs, visit our How PBGC Operates page.

Governance

PBGC is headed by a director who is appointed by the president and confirmed by the Senate. The Board of Directors consists of the Secretaries of Labor, Commerce, and Treasury, with the Secretary of Labor as Chair.

Also see:

• Director
• Executive Leadership
• PBGC Departments
• Advisory Committee
• Office of Inspector General
• PBGC Participant and Plan Sponsor Advocate

Our customers

PBGC serves a range of customers, including:

• Workers and retirees for whom we pay or owe pension benefits
• Employers and practitioners who administer pension plans and look to PBGC to provide guidance, resolve any issues and process their premium payments
• Congress
• Media
• General Public