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The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...
PBGC's 2021 annual report reflected the impact of SFA, and the agency reported positive financial positions in both its single-employer and multiemployer insurance programs for the first time in over 20 years. [17] [18] As a result, the Government Accountability Office (GAO) removed PBGC from its High-Risk List for the first time since 2003. [19]
WSYX (channel 6) is a television station in Columbus, Ohio, United States, affiliated with ABC, MyNetworkTV and Fox.It is owned by Sinclair Broadcast Group, which provides certain services to TBD station WTTE (channel 28, owned by Cunningham Broadcasting) and Chillicothe-licensed CW affiliate WWHO (channel 53, owned by Manhan Media) under separate local marketing agreements (LMAs).
The petition, filed in Federal District Court in Manhattan, showed liabilities of more than $1 billion. Saint Vincent's largest unsecured creditor was the PBGC which is a federal pension insurance agency that was insuring the "Saint Vincent Catholic Medical Centers Retirement Plan" which was a defined benefit pension plan. The pension plan on ...
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns.
PBGC's liabilities exceeded its assets by about $51 billion as of the end of fiscal year 2018—an increase of about $16 billion from the end of fiscal year 2013. In addition, PBGC estimated that its exposure to potential additional future losses for underfunded plans in both the single and multiemployer programs was nearly $185 billion, of ...
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The 1974 Xenia tornado was a violent F5 tornado that destroyed a large portion of Xenia and Wilberforce, Ohio, United States on the afternoon of April 3, 1974. It was the deadliest individual tornado of the 1974 Super Outbreak, the 24-hour period between April 3 and April 4, 1974, during which 148 tornadoes touched down in 13 different U.S. states.