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PBGC policy change saves about $1 billion

A change in PBGC policy saved 50 businesses about $1 billion since November.

By Paula Aven Gladych | Updated on March 18, 2013

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.

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