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Enron's Underfunded Pensions

Long before Enron became synonymous with corporate misdeeds, the corporation—much like other large companies during the 1980s and 1990s—was tinkering with its employees’ retirement funds to offset the cost of acquisitions and investments.

Pension Benefit Guaranty Corporatioin (PBGC) Pension Reversion Fact Sheet: Fact sheet detailing the whys and hows of pension reversion.

PBGC Report on Pension Funding (1995): PBGC reports a crisis in pension funding, caused by a law allowing companies to use funds allotted for pensions for purposes other than the payment of benefits, such as buying up assets.

Enron letter to Treasury: Enron complains to Treasury that government officials have misrepresented Enron in voicing their concerns about the company's pension plan.

Enron letter to PBGC: Enron complains to PBGC that government officials have misrepresented Enron in voicing their concerns about the company's pension plan.

Treasury response to Enron's letter: Treasury responds to Enron's objections to concerns that government representatives made regarding the underfunding of Enron's pension plan.

PBGC response to Enron's letter: PBGC responds to Enron's complaint and defends its original stance, which is that Enron's pension plan is dangerously underfunded due to "reversion" strategies.

Email: Enron's Pension Plans: Email (redacted) about the funding of Enron's pension plan.

Email: Enron Pension Working Groups: Email about the creation of two Treasury working groups to investigate Enron's behavior.

PBGC studies effects of Enron's: PBGC is a government agency that guarantees payment of pensions to employees in case of a company's bankruptcy.

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