Strategic Plan FY 2011 - 2016This strategic plan provides a framework for safeguarding the pension insurance system, providing exceptional service to customers and stakeholders, and managing resources effectively to maximize efficiency. It identifies the priorities management has established to address the challenges PBGC will face.PBGC and its stakeholders maintain an interest in a strong and effective pension insurance system, which is vital to the encouragement of voluntary private pension plans. While the program remains exposed to significant risks and higher deficits, PBGC is committed to using the appropriate means to close the deficit, control its exposure to future losses, and educate the American public and stakeholders on the issues it faces.Pension Benefit Guaranty CorporationPBGC_a1c37a79-b2c0-445f-9b55-5dbb785959c1The Pension Benefit Guaranty Corporation (PBGC) is a federal corporation established under the Employee Retirement Income Security Act of 1974, as amended (ERISA). ERISA established PBGC to insure, subject to statutory limits, benefits for participants in covered private-sector defined benefit pension plans in the United States. It currently guarantees payment of basic pension benefits earned by more than 44 million American workers and retirees in more than 29,000 plans. PBGC receives no funds from general tax revenues. Operations are financed by insurance premiums set by Congress and paid by companies that sponsor defined benefit pension plans, investment income, assets from plans trusteed by PBGC, and recoveries from companies formerly responsible for the plans.Board of DirectorsPBGC is governed by a board of directors, which consists of the secretaries of labor (chair), treasury, and commerce. The director of PBGC is appointed by the president and subject to confirmation by the United States Senate.Hilda L. SolisSecretary of LaborChairPerformerTimothy F. GeithnerSecretary of TreasuryBoard MemberPerformerGary LockeSecretary of CommerceBoard MemberPerformerPBGC is a performance-based organization that values professionalism, integrity, high ethical standards, and accuracy in all of its work._bfc362f9-81a4-4f30-8aad-596c1d5b5bbaPBGC safeguards the retirement security of the American people by guaranteeing benefits for those covered by insured defined-benefit pensions._67b0b6a3-7d31-42a8-9179-85b5417d9adePension InsurancePBGC will safeguard the federal pension insurance system for the benefit of participants, plan sponsors, and other stakeholders._84850fb0-8e30-4214-9443-028526fc52a5Strategic Goal 1Policy EnvironmentA policy environment that appropriately balances the interests of stakeholders_02ed8239-b00c-47ae-b2d9-c185531c6c46Outcome 1.1_a2b49395-1cb2-43f7-82fc-5d9960d5d9fa[To be determined]Deficit and LiabilitiesCommit to eliminate PBGC's deficit and address PBGC's expected liabilities so that workers and retirees can expect to receive qualified benefit payments from PBGC for the defined benefit pension plans trusteed by the agency._7646c5f5-f19e-4799-8bfa-c9312ea70600Principal Strategy 1.1AnalysisPremium Increase_a2b49395-1cb2-43f7-82fc-5d9960d5d9faKey Indicator: Annual analysis of the premium increase necessary to eliminate PBGC's deficit. (externally reported measure)TBDTBDRisk and LossMitigate risk and avoid financial losses from underfunded pension plans._9fe3f5bf-b4ba-4e85-a3f9-2b0120aeb2acOutcome 1.2_a2b49395-1cb2-43f7-82fc-5d9960d5d9faTBD[To be determined]Monitoring, Warning, Resource Alignment, Recoveries, and InterventionImprove risk monitoring and early warning activities; align resources to assure proper plan terminations; obtain enhanced recoveries from bankrupt plan sponsors that emerge from reorganizations; and intervene in corporate transactions to mitigate loss to PBGC._793f07b6-4220-45f6-b7cd-057706131bbdPrincipal Strategy 1.2Case Management SystemImplementation_a2b49395-1cb2-43f7-82fc-5d9960d5d9faImplementation of a more robust case management systemTBDUse of Experts_a2b49395-1cb2-43f7-82fc-5d9960d5d9faUse of experts to evaluate potential failures of major plan sponsors and corporate transactions involving plan sponsors maintaining significantly underfunded plansTBDNew Claims_a2b49395-1cb2-43f7-82fc-5d9960d5d9faPursuit of new claims for post-termination premium payments where former plan sponsors emerge from bankruptcyTBDLiability Claims_a2b49395-1cb2-43f7-82fc-5d9960d5d9faPursuit and defense of PBGC liability claims in contested casesTBDComplianceCompliance with pension insurance system laws and regulations under Title IV of ERISA_15ba017d-27c8-480b-97f7-4ecb61ebf193Outcome 1.3_a2b49395-1cb2-43f7-82fc-5d9960d5d9fa[To be determined]Legal AuthoritiesImplement the provisions of the Deficit Reduction Act of 2005 and the Pension Protection Act of 2006._68f72e76-df7a-477f-b35b-903256324360Principal Strategy 1.3RegulationsPromulgation_a2b49395-1cb2-43f7-82fc-5d9960d5d9faPromulgation of regulations in coordination with appropriate agencies and within established timeframesTBD Legislative and Regulatory GapsRemediation_a2b49395-1cb2-43f7-82fc-5d9960d5d9faIdentification and remediation of legislative and regulatory gapsTBDServicePBGC will provide exceptional service to customers and stakeholders._71552a68-1e12-4ea0-b203-4c19fab5a4ebStrategic Goal 2Customer ServiceTimely, accurate, and responsive customer service and self-service tools_b72a19d5-d58d-45d4-b99f-5a99af729144Outcome 2.1_a2b49395-1cb2-43f7-82fc-5d9960d5d9fa[To be determined]Web FunctionalityIncrease functionality available via Web._963841f3-865a-4f41-a7b8-2523909087cfPrincipal Strategy 2.1Customer Contact Center Caller SatisfactionACSI Rating_a2b49395-1cb2-43f7-82fc-5d9960d5d9faAmerican Customer Satisfaction Index (ACSI) ratings for participant services - Customer Contact Center callers (externally reported measure)TBDTBDBeneficiary SatisfactionACSI Rating_a2b49395-1cb2-43f7-82fc-5d9960d5d9faAmerican Customer Satisfaction Index (ACSI) ratings for participant services - - Retirees and beneficiaries receiving benefits (externally reported measure)TBDTBDMyPBA User SatisfactionACSI Rating_a2b49395-1cb2-43f7-82fc-5d9960d5d9faAmerican Customer Satisfaction Index (ACSI) ratings for participant services - - MyPBA usersTBDTBDPremium Filer SatisfactionACSI Rating_a2b49395-1cb2-43f7-82fc-5d9960d5d9faACSI ratings for premium filer service - Premium filers (externally reported measure)TBDTBDMy PAA User SatisfactionACSI Rating_a2b49395-1cb2-43f7-82fc-5d9960d5d9faACSI ratings for premium filer service - My PAA usersTBD TBDBenefit DeterminationsAverage Age_a2b49395-1cb2-43f7-82fc-5d9960d5d9faAverage age of benefit determinations issued (external reported measure)TBDTBDPBGC.govACSI Rating_a2b49395-1cb2-43f7-82fc-5d9960d5d9faACSI ratings for PBGC.gov (externally reported measure)TBDTBDAdditional Online TransactionsImplementation_a2b49395-1cb2-43f7-82fc-5d9960d5d9faImplementation of additional My PAA and MyPBA online transactions for participants and premium filersTBDTBDProcesses, Procedures, and SystemsEfficient operational processes, procedures, and systems that have capacity to handle variable workloads_931ca6d3-9b0f-4281-b600-28154235c73aOutcome 2.2_a2b49395-1cb2-43f7-82fc-5d9960d5d9fa[To be determined]Applications, Service-Delivery, and ProcessesConsolidate applications, refine service-delivery model, and improve key processes._bb9f4939-93dd-4279-8d96-d00ea49d75a3Principal Strategy 2.2ApplicationsNumber_a2b49395-1cb2-43f7-82fc-5d9960d5d9faFewer applications to supportTBDService DeliverySimplification_a2b49395-1cb2-43f7-82fc-5d9960d5d9faSimplified service-delivery modelTBDProcessesReengineering_a2b49395-1cb2-43f7-82fc-5d9960d5d9faRe-engineered processesTBDStaffingAlignment_a2b49395-1cb2-43f7-82fc-5d9960d5d9faFlexible staffing aligned with workloadsTBDCost Per ParticipantDollars_a2b49395-1cb2-43f7-82fc-5d9960d5d9faCost per participant in trusteed plan (externally reported measure)TBDTBDStewardshipPBGC will exercise effective and efficient stewardship of PBGC resources._6d1f6c24-854a-4fcd-80d1-a792c3c72593Strategic Goal 3Information TechnologyAccess to critical systems through reliable, adaptable, and secure information technology (IT) using enterprise services to meet the needs of PBGC’s internal and external customers_22d580bb-2a57-447e-aa0a-61f8a075156dOutcome 3.1_a2b49395-1cb2-43f7-82fc-5d9960d5d9fa[To be determined]Planning and ManagementPlan and manage IT projects as investments to provide measurable business improvements while mitigating risks._fde21876-2e8c-4154-8230-b54b55490800Principal Strategy 3.1Governance StructurePolicies, Procedures, Standards, and Guidance_a2b49395-1cb2-43f7-82fc-5d9960d5d9faIT governance structure encompassing policies, procedures, standards, and guidance that enable corporate decision-makingTBDTBDIT Management FrameworkArchitecture Planning, Investment Management, Security, and Solutions Development_a2b49395-1cb2-43f7-82fc-5d9960d5d9faIT management framework integrating architecture planning, investment management, security, and solutions development to align IT with business goals and controlsTBDTBDTransition Strategy and sequencing PlanCompletion_a2b49395-1cb2-43f7-82fc-5d9960d5d9faTransition strategy and sequencing plan identifying corporate-wide migration to target environmentTBDTBDSolutionsTimeliness and Effectiveness_a2b49395-1cb2-43f7-82fc-5d9960d5d9faCost-effective, secure solutions that are delivered on time and meet the planned performance goalsTBDTBDComplianceCompliance with laws and regulations through program evaluations and management accountability_cb14d6bc-78d4-4f90-8283-cc1520a512afOutcome 3.2_a2b49395-1cb2-43f7-82fc-5d9960d5d9fa[To be determined]Legal and Regulatory ComplianceEnsure legal and regulatory compliance through implementation of appropriate policies, procedures, standards, and guidance._11ce58a7-75b7-450e-bf15-3c036a847b09Principal Strategy 3.2Audit OpinionsUnqualified_a2b49395-1cb2-43f7-82fc-5d9960d5d9faUnqualified financial audit opinionTBDInternal Controls_a2b49395-1cb2-43f7-82fc-5d9960d5d9faEffective internal controls mitigating risks and exposuresTBDSecurity ControlsAdequacy_a2b49395-1cb2-43f7-82fc-5d9960d5d9faSecurity controls, commensurate with risk, that protect sensitive, private, and classified informationTBDContingency PlanningDocumentation and Testing_a2b49395-1cb2-43f7-82fc-5d9960d5d9faContingency planning process that is documented and routinely testedTBDRecords ManagementCompliance_a2b49395-1cb2-43f7-82fc-5d9960d5d9faRecords management program that is compliant with National Archives and Records Administration requirementsTBDWorkforceAn expert, ethical, diverse, and highly productive workforce_6aaa876c-7e5a-4179-b0f5-fc484b75768fOutcome 3.3_a2b49395-1cb2-43f7-82fc-5d9960d5d9fa[To be determined]Performance-Based CultureEstablish a performance-based culture with human capital programs and practices that promote a fair and inclusive work environment._bd181312-cf34-4b62-98b2-3b4cee48a875Principal Strategy 3.3Human Capital Strategic PlanCompletion_a2b49395-1cb2-43f7-82fc-5d9960d5d9faA human capital strategic planTBDTBDRetention and Recruitment_a2b49395-1cb2-43f7-82fc-5d9960d5d9faProactive retention and recruitment of employees including mentoring, employee assessment and feedback, outreach, incentives, and recognition programsTBDTBDSuccession Planning and Knowledge Management_a2b49395-1cb2-43f7-82fc-5d9960d5d9faSuccession planning and knowledge management programsTBDTBDPerformance-Based CultureAccountability and Performance_a2b49395-1cb2-43f7-82fc-5d9960d5d9faA performance-based culture that improves accountability and organizational performanceTBDTBDEthical Standards_a2b49395-1cb2-43f7-82fc-5d9960d5d9faTrained workforce that models the highest ethical standards, ensuring that decisions are informed by public and not private interestsDecisions are informed by public and not private interestsTBDDiversity_a2b49395-1cb2-43f7-82fc-5d9960d5d9faWorkforce well-trained in diversity and EEO mattersTBDTBD2011-10-012016-09-302011-07-03http://xml.fido.gov/stratml/cusson/PBGC2011-2016.xmlOwenAmburOwen.Ambur@verizon.net Submit 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This form provides an easy way to convert strategic plans into performance plans and reports by documenting stakeholder roles and performance indicators for each objective. Click the XML button at the bottom of the form and then save the file on your hard drive in plain XML format. Click the XML+XSL button to save it in a more attractive presentation format but you will also need to download and place the stylesheet in the same directory. When you have saved the file, you can either reimport it into this form for further editing or use any other XML editor. When you're ready to share it with others, post it on the Web. If you'd like to have it indexed in the StratML collection, send the URL to Owen Ambur.

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Plan Information

    Plan or Report Type: Strategic_Plan Strategic_Plan Performance_Plan Performance_Plan Performance_Report Performance_Report
    Name of Plan:
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Organization Information

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Vision

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Mission

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Goals ()


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    Performance Indicator :

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    Value Chain Stage: OutcomeOutcome Output_ProcessingOutput_Processing Output Output Input_Processing Input_Processing Input Input
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Submitter Information

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Form last updated: Oct. 28, 2015