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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Win-Lose-Draw who wrote (183979)7/26/2002 10:41:24 PM
From: BDR  Read Replies (1) of 436258
 
"how are they funded?"

dol.gov
The PBGC is a federal corporation created by the Employee Retirement Income Security Act of 1974 to encourage the continuation and maintenance of private defined benefit pension plans and provide timely and uninterrupted payments in the case of terminated plans, while maintaining premiums and operating costs at the lowest levels consistent with statutory responsibilities.

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I take that to mean that they are basically a pension insurance company funded by premiums paid by the defined benefit pension plans they insure. I don't know whether the taxpayer is on the hook if premiums aren't sufficient to cover underfunded pensions, but I have an idea what the answer is to that question.
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