The federal government plays a large role in supporting private pension plans. Besides providing tax incentives for employer-sponsored and individual retirement accounts, as well as providing defined-benefit and defined-contribution pension plans for federal employees, federal funds also support the Pension Benefit Guaranty Corporation, which insures pension benefits for many nonfederal defined-benefit pension plans.
The effect on the 10-year net costs to the Pension Benefit Guaranty Corporation (PBGC) of enacting S. 1783, the Pension Security and Transparency Act of 2005