"Underfunded Pensions, Pension Dumping, and Retirement Security: Pension Funds, the Pension Benefit Guarantee Corporation (PBGC), Bailout Risks, Impact on the Federal Budget, and the Pension Protection Act of 2006," part of the Government Series from TheCapitol.Net The Employee Retirement Income Security Act of 1974 (ERISA) provides a comprehensive federal scheme for the regulation of employee pension and welfare benefit plans offered by employers. The Pension Benefit Guarantee Corporation (PBGC), a federal corporation created by ERISA, protects the pensions of nearly 44 million American workers and retirees in more than 29,000 private single-employer and multiemployer defined benefit pension plans. Although the PBGC's liabilities are not explicitly backed by the full faith and credit of the federal government, Congress could face political pressure to bail out the PBGC at taxpayer expense should the agency become financially insolvent. Ch. 1. Summary of the Employee Retirement Income Security Act (ERISA), by Patrick Purcell and Jennifer Staman Ch. 2. The Pension Benefit Guaranty Corporation and the Federal Budget, by William Joseph Klunk Ch. 3. The Worker, Retiree, and Employer Recovery Act of 2008: An Overview, by Jennifer Staman Ch. 4. Pension Benefit Guaranty Corporation (PBGC) Investment Policy: Issues for Congress, by Kelly Kinneen and Patrick Purcell Ch. 5. Proposed Plan Buyouts by Financial Firms Pose Potential Risks and Benefits, US GAO Ch. 6. The Financial Health of the Pension Guaranty Benefit Corporation (PBGC), by William J. Klunk Ch. 7. "The Pension Benefit Guaranty Corporation," Statement of Dallas Salisbury, Pres & CEO, EBRI Ch. 8. "Pension Benefit Guaranty Corporation Financial Challenges Highlight Need for Improved Governance and Management," Statement of Barbara D. Bovbjerg, GAO Ch. 9. "No Guarantees: As Pension Plans Crumble, can PBGC Deliver?," Statement of Rebecca Anne Batts, IG, PBGC Ch. 10. Testimony of Vincent K. Snowbarger, Acting Director, PBGC Ch. 11. "The Effects of Recent Turmoil in Financial Markets on Retirement Security," Statement of Peter R. Orszag, Dir., CBO Ch. 12. "A Review of the Pension Benefit Guaranty Corporation's New Investment Strategy," Letter from Peter Orszag, Dir., CBO Ch. 13. Testimony of Bradley D. Belt, PBGC Ch. 14. ERISA Part 4010. 29 CFR Part 4010 Ch. 15. PBGC FAQs: Plan Funding Ch, 16. Other Resources Ch. 17. Other Resources from TheCapitol.Net Capitol Learning Audio Courses TM www.CapitolLearning.com Congress and Its Role in Policymaking, ISBN 158733061X Preparing for Congressional Oversight and Investigation, ISBN 1587330644 Understanding the Regulatory Process, A Five Course Series, ISBN 9781587331398 Live Training Advanced Federal Budget Process www.BudgetProcess.com The President's Budget www.PresidentsBudget.com Capitol Hill Workshop www.CapitolHillWorkshop.com Understanding The Regulatory Process: Working with Federal Regulatory Agencies www.RegulatoryProcess.com Congressional Oversight and Investigation www.CongressionalInvestigation.com Complete Table of Contents at www.1534Pensions.com