WASHINGTON – The Pension Benefit Guaranty Corporation (PBGC) today released the Pension Insurance Data Book 2007, which offers information on statistical trends related to defined benefit retirement plans.
The 2007 Data Book features an article examining the characteristics of standard terminations, the most common procedure used to end PBGC-insured single-employer defined benefit plans.
It is noteworthy that firms representing the ten largest claims have accounted for 62 percent of all claims against PBGC from 1975 to 2007 and that terminations by firms in the Primary Metals and Air Transportation industries have accounted for almost 75 percent of PBGC’s claims.
The Top 10
1.United Airlines
2.Bethlehem Steel
3.US Airways
4.LTV Steel
5.Delta Air Lines
6.National Steel
7.Pan American Air
8.Trans World Airlines
9.Weirton Steel
10.Kaiser Aluminum
See also this discussion of the pension system by Bloomberg, January 13, 2009
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