PBGC Policy Change Information

May 21, 2021 Admin 0

May 20, 2021

We recently became aware of a change in the Pension Benefit Guarantee Corp (PBGC) policy regarding payment of retiree benefits. In the past, employees had to be retired in order to collect benefits from any plan terminated by the employer and taken over by the PBGC. The recent change now allows active employees to collect benefits without retiring from their employer and takes effect June 1, 2021. Eligibility rules are established by the PBGC. However, we understand this change would apply to any employee of any company who had their pension terminated and taken over by the … Read More...