Shifting its enforcement policy away from companies that are unlikely to default on their pensions benefited about 50 businesses by almost $1 billion since the start of the pilot program announced in November, according to the Pension Benefit Guaranty Corporation.
The new policy screens out financially sound companies and small plans with less than 100 people, which excludes 92 percent of businesses that sponsor plans from the agency's enforcement efforts.
"By focusing on companies that pose real risk, we hope to preserve and encourage companies to continue to offer traditional pensions," said PBGC Director Josh Gotbaum.
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