25 pages. "[N]otable themes emerge in the challenges participants and plan sponsors encounter with PBGC such as: [1] Interactions with PBGC are adversarial and defensive, rather than collaborative and businesslike, in working toward a mutually agreeable resolution; [2] There is a lack of transparency in working with PBGC to understand the corporation's assumptions, resulting in costly and time-consuming interactions with the agency which can go on for months and even years; [3] PBGC is unwilling to exercise judgment and discretion with participant claims and sponsor penalties, relying almost exclusively on automatic and mechanical-like approaches; and [4] PBGC demands documentation, costly analysis, and historical records that businesses, governmental entities, or participants rarely, if ever, retain."  MORE >>