[20060424]RS22315_预算调节和PBGC.pdf

1 For additional information, see CRS Report RL32702, Can the Pension Benefit GuarantyCorporation Be Restored to Financial Health?, by Neela K. Ranade; and CRS Report RL32991,Defined Benefit Pension Reform for Single-Employer Plans, by Neela K. Ranade and Paul J.Graney.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS22315Updated April 24, 2006Budget Reconciliation and the PBGCNeela K. RanadeChief ActuaryDomestic Social Policy DivisionSummaryThe Pension Benefit Guaranty Corporation (PBGC) posted a deficit of $23.1 billionas of the latest reporting date of September 30, 2005, and its exposure to new probableterminations remains high in 2006. Higher PBGC premiums would help reduce thePBGC deficit. PBGC premiums are also an important source of revenue for meeting thebudget reconciliation targets. The House and the Senate passed budget reconciliationbills H.R. 4241 and S. 1932 in the first session of the 109th Congress. These includeddiffering provisions for increasing PBGC premiums. Conference agreement wasreached on the two bills, and the Deficit Reduction Act of 2005 (P.L. 109-171) wassigned by President Bush on Fe