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General Inquiries Information or
DC, headquarters or any of its area offices. Frequently, information is available from local post offices.
For further information, contact the Press Office, Peace Corps, 1990 K Street NW., Washington, DC 20526. Phone, 202-606-3010; or 800_424–8580 (toll-free). Fax, 202-606–3108.
PENSION BENEFIT GUARANTY CORPORATION
ROBERT B. REICH
ROBERT E. RUBIN
JOSEPH H. GRANT
N. ANTHONY CALHOUN
Board of Directors:
(Secretary of the Treasury)
(Secretary of Commerce)
HENRY R. THOMPSON
ANDREA E. SCHNEIDER
STUART A. SIRKIN
JANET A. SMITH
WAYNE ROBERT POLL
ROBERT W. HERTING
The Pension Benefit Guaranty Corporation guarantees payment of nonforfeitable pension benefits in covered private sector defined benefit pension plans.
The Pension Benefit Guaranty Corporation is a self-financing, wholly owned Government corporation subject to the Government Corporation Control Act (31 U.S.C. 9101-9109). The Corporation, established by Title IV of the Employee Retirement income Security Act of 1974 (29 U.S.C. 13011461), is governed by a Board of Directors consisting of the Secretaries of Labor, Commerce, and the Treasury. The Secretary of Labor is Chairman of the Board. A seven-member Advisory Committee, composed of two labor, two business, and three public members appointed by the President, advises the agency on various matters.
Activities Coverage The Corporation insures most private sector defined benefit pension plans that provide a pension benefit based on factors such as age, years
of service, and salary.
The Corporation administers two insurance programs separately covering single-employer and multiemployer plans. More than 42 million workers participate in approximately 55,000 covered plans. Single-Employer Insurance Under the single-employer program, the Corporation guarantees payment of certain pension benefits if an insured plan terminates without sufficient assets to pay those benefits. However, the law limits the total monthly benefit that the agency may guarantee for one individual to $2,642.05 per month, at age 65, for a plan terminating during 1995, and sets other restrictions on PBGC's guarantee. The Corporation may also pay some benefits above the guaranteed amount depending on amounts recovered from the employer responsible for the plan.
A plan administrator may terminate a single-employer plan in a "standard" or "distress' termination if certain procedural and legal requirements are met. In either termination, the plan
administrator must inform participants in writing at least 60 days prior to the date the administrator proposes to terminate the plan. Only a plan which has sufficient assets to pay all benefit liabilities may terminate in a standard termination. The Corporation also may institute termination proceedings in certain specified circumstances. Multiemployer Insurance Under title IV, as originally enacted, the Corporation guaranteed nonforfeitable benefits for multiemployer plans in a similar fashion as for single-employer plans. However, the multiemployer program was revised in 1980 by the Multiemployer Pension Plan Amendments Act (29 U.S.C. 1001 note) which changed the insurable event from plan termination to plan insolvency. The Corporation now provides financial assistance to plans that are unable to pay nonforfeitable benefits. The plans are obligated to repay such assistance. The act also made employers withdrawing from a plan liable to the plan for a portion of its unfunded vested benefits. Premium Collections All defined benefit pension plans insured by PBGC are required to pay premiums to the Corporation according to rates set by Congress. The annual premium per plan participant for multiemployer pension plans is $2.60 for plan years beginning after September 26, 1988. The basic premium for all single-employer plans is $19 per participant per year. Underfunded single-employer plans must also pay an additional premium equal to $9 per $1,000 of unfunded vested benefits, subject to a cap that will be phased out by the end of 1997.
Sources of Information
The Pension Benefit Guarantee Corporation provides information electronically through the Internet, at http://www.pbgc.gov/.
For further information, contact the Pension Benefit Guaranty Corporation, 1200 K Street NW.,
POSTAL RATE COMMISSION 1333 H Street NW., Washington, DC 20268-0001 Phone, 202-789-6800. Fax, 202-789-6861
EDWARD J. GLEIMAN Special Counsel
JAMES PIERCE MYERS Vice Chairman
W.H. LEBLANC III Special Assistant
JOHN B. KEELEY Commissioner
GEORGE W. HALEY Special Assistant
IRVIN H. BROMALL Commissioner
H. EDWARD QUICK, JR. Special Assistant
JANET L. GREENE Commissioner
(VACANCY) Special Assistant
(VACANCY) Special Assistant to the Commission
ROBERT W. MITCHELL Chief Administrative Officer and Secretary MARGARET P. CRENSHAW Legal Advisor
STEPHEN L. SHARFMAN
Advocate Personnel Officer
CYRIL J. PITTACK (For the Postal Rate Commission statement of organization, see the Code of Federal Regulations, Title 39, Part 3002]
The major responsibility of the Postal Rate Commission is to submit recommended decisions to the United States Postal Service Governors on postage rates, fees, and mail classifications.
The Postal Rate Commission is an
The Commission promulgates rules and regulations, establishes procedures, and takes other actions necessary to carry out its obligations. Acting upon requests from the U.S. Postal Service or on its own initiative, the Commission recommends and issues advisory opinions to the Board of Governors of
the U.S. Postal Service on changes in
The Commission also receives, studies,
and problems of national scope regarding postal services. Additionally, the Commission has appellate jurisdiction to review Postal Service determinations to close or consolidate small post offices.
Sources of Information
bulletin board that provides information
For further information, contact the Secretary, Postal Rate Commission, 1333 H Street NW., Washington, DC 20268-0001. Phone, 202-789-6840.
RAILROAD RETIREMENT BOARD
Deputy General Counsel
Director, Legislative Affairs
Director, Retirement Benefits
Director, Survivor Benefits
Director, Field Service
GLEN L. BOWER
JOHN L. THORESDALE