The Pension Benefit Guaranty Corporation Pension Insurance program insures 2600 defined-benefits pension plans nation wide. Official web-page here and here.
The pension crisis at private and public employers could cost the plan billions in coverage pay-outs if the pension managers can not meet their contracted obligations.
“Looming Pension Shortfalls May Complicate U.S. Government Shutdown Fight.” Could cost government backed insurance program billions!
“3 Pension Funds Sue For Billions in Damages.” Else it would cost the government backed insurance program billions to cover the short fall.
“Michigan attorney general backs pensioners in Detroit bankruptcy:” putting them first for payments.