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Pension Benefit Guaranty Corporation

1974 establishments in Washington, D.C.Corporations chartered by the United States CongressEmployee Retirement Income Security Act of 1974Government-owned companies of the United StatesGovernment agencies established in 1974
Independent agencies of the United States governmentPension Benefit Guaranty CorporationUse mdy dates from June 2018
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The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary to carry out its operations. Subject to other statutory limitations, PBGC's single-employer insurance program pays pension benefits up to the maximum guaranteed benefit set by law to participants who retire at 65 ($67,295 a year as of 2018). The benefits payable to insured retirees who start their benefits at ages other than 65 or elect survivor coverage are adjusted to be equivalent in value. The maximum monthly guarantee for the multiemployer program is far lower and more complicated ($12,870 a year as of 2017 for a participant with 30 years of credited service).In fiscal year 2018 PBGC added 58 more failed single-employer plans, bringing its inventory to 4,919 plans, and paid $5.8 billion in benefits to 861,000 retirees in those plans. That year, PBGC also paid $151 million in financial assistance to 81 multiemployer pension plans on behalf of 62,300 retirees. The agency has a total of $164 billion in obligations and $112 billion in assets for an overall deficit of $51 billion, an improvement of $25 billion since the prior year. The multiemployer program has a deficit of $53.9 billion and the single employer program a surplus of $2.4 billion.

Excerpt from the Wikipedia article Pension Benefit Guaranty Corporation (License: CC BY-SA 3.0, Authors, Images).

Pension Benefit Guaranty Corporation
K Street Northwest (access road), Washington

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N 38.902188 ° E -77.028751 °
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K St & 13th St NW

K Street Northwest (access road)
20071 Washington
District of Columbia, United States
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Planet Word
Planet Word

Planet Word is a language arts museum that opened in Washington, D.C., in October 2020. The museum is described as "The museum where language comes to life" and features interactive exhibits dedicated to topics such as the history of the English Language, how children learn words, languages around the world, humor, poetry, and how music and advertising use words. It is located in the historic Franklin School building, designed by Adolf Cluss, located on Franklin Square at 13th and K Street.The museum was created by Ann B. Friedman, a philanthropist and former reading teacher who is married to New York Times opinion columnist Tom Friedman.Initial building renovation began in 2017. In 2018, work on the project was stopped after it was discovered that D.C. and U.S. federal preservation rules were violated in the destruction of the building's interior. A "minimal" fine was paid, work on the project continued, and the museum opened on October 22, 2020.Each exhibit focuses on a different aspect of spoken and/or signed language, with an emphasis on allowing visitors to speak or sign, manipulate, and interact with concepts. This ranges from an elaborate interactive room-sized globe to playful poetry written on bathroom walls.Speaking Willow, an interactive, motion-detecting tree sculpture, is an exhibit created by Rafael Lozano-Hemmer that whispers to visitors in hundreds of different languages as they enter the museum. This interactive sculpture was delivered by Public Art Fund in collaboration of art foundry, UAP.Other notable exhibits within the museum include First Words, Where Do Words Come From?, and The Spoken Word. In March 2022, Planet Word opened Lexicon Lane, a permanent exhibit where visitors can solve language-related “cases”. Located on the third floor of the museum, the exhibit is set up to look like a small village, within which visitor have an hour to solve a mystery by figuring out the answers to language-related puzzles and riddles.Cintas Corporation selected Planet Word as a finalist for the 2021 America’s Best Restroom Contest.In May 2022, the North American School Scrabble Championship was held live at Planet Word. Walden Giezentanner, a seventh grader, and sixth grader Nathaniel Campos were winners.