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Tune in for thought-provoking conversations with smart, creative thinkers in the fields of benefits, economics, government, demography and more. This show is brought to you by the American Benefits Council, a Washington D.C. trade association that advocates for employers, connecting public policy and private-sector solutions to shape employee benefits for the evolving global workforce.  |  @BenefitsCouncil

Mar 24, 2022

Even casual observers know that, over the past several decades, the nation's retirement system has evolved from a predominantly defined benefit system to a predominantly defined contribution system. That said, there are still nearly 47,000 defined benefit plans in the United States, (half of which are insured by the Pension Benefit Guaranty Corporation, or PBGC), covering almost 33 million people and totaling more than $3.2 trillion in assets.

On this past New Year's Eve, the PBGC’s Participant and Plan Sponsor Advocate, Connie Donovan, issued the 2021 Annual Report of the Participant and Plan Sponsor Advocate, highlighting the agency’s successes and improvements, as well as areas of lingering concern. (See the report here:

In this episode, Donovan speaks with host Jason Hammersla about the customer experience with PBGC, including what she has characterized as “internal administrative issues” within the agency.