Corporate Failures Hurt Pension Guaranty Group
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Description: A flurry of corporate bankruptcies in the past few years leaves a public agency strapped for cash: the Pension Benefit Guaranty Corporation.
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ENGINEERS were today tackling a massive computer failure which has caused chaos at the Department for Work and Pensions. Up to 80 per cent of the ministryâs systems for processing millions of pension and benefit payments collapsed on Monday.
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Northern Rock's government guarantee achieves limited success.
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Â· Company faces insolvency without Â£400m cash boostÂ· Public-private deal was driven by Treasury
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The government&#39;s pension insurance agency yesterday called on Congress to strengthen its hand in seeking to attach assets of bankrupt companies to protect those companies&#39; pension plan
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Too many business interests are clinging to a failed status quo and resisting necessary governance reforms, the government's top securities regulator said Thursday.
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Sale process for stricken bank in disarray as private equity firm fails to submit an offer
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LOS ANGELES - A lawsuit filed against Countrywide Financial Corp. on behalf of its employees claims the mortgage lender failed to warn them about the depth of its financial troubles, resulting in heavy stock losses in their 401(k) retirement accounts.
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Accounting flaws at the insurance giant that understated the companyâs losses raised new questions about the deteriorating health of financial companies.
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Getting over contract losses Business Systems Group has dragged itself back into the black after the loss of a Â£2m contract hit the company hard.â¦
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A huge systems crash causes delays in processing some claims at the Department for Work and Pensions.
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Financial institution failed to operate effective security measures to protect customers from data theft, government watchdog agency says.
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The longer-term solvency of the US fund that insures traditional pensions is at risk, the director of the Pension Benefit Guaranty Corp.
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The deficit at the federal agency that rescues failed US pension funds more than doubled to $23.3 billion in fiscal 2004, officials said on Monday, as the safety net was hit by losses from pension plans that have failed or are
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INSURERS face paying out millions of pounds after they failed in a legal bid yesterday to stop paying compensation to workers who developed a lung condition after they were exposed to asbestos.
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The Lords votes to raise the payouts given to some people whose company pension schemes have collapsed.
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Federal regulators question the ability of the company's management to correct its extensive problems.