The federal government set up the Pension Benefit Guaranty Corporation (PBGC) to insure private defined benefit pension plans. Critics are calling for a review of the PBGC because it doesn't want legislation that demands employers have the funds in place to meet worker's future pensions. it pays more than the worker's company on failed pension policies, thus creating a budget deficit every year. it has too large a deficit to cover under-funded pension plans if they fail. the government only predicted to cover 15-18 million retirees, and it now covers 40 million people