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PBGC Blog: Retirement Matters

PBGC will pay retirement benefits for more than 900 current and future retirees of Vertellus Specialties Inc., a manufacturer of specialty chemicals based in Indianapolis, Ind.

The company sponsors the Vertellus Specialties Inc. Defined Benefit Retirement Plan.

Vertellus

PBGC is stepping in because Vertellus and 10 affiliates intend to sell the majority of their assets in bankruptcy proceedings and the potential buyer will not continue the pension plan. More...

Image highlighting California, Louisiana and Mississipps

The United States Postal Service has issued a service disruption alert due to torrential rain and flooding in Louisiana and Mississippi, and wildfires in California. This may potentially impact delivery of pension checks to retirees who receive payments via regular mail in those areas. If you have not received your pension check by Sept. 12, please call PBGC's Customer Contact Center at (800) 400-7242 for assistance.

Did you know PBGC offers electronic direct deposit? It's the safest, most secure way to receive your pension payments. And you'll no longer have to wait for your check to be mailed, or make a trip to the bank to deposit your check. You can sign up through your MyPBA account, or by contacting the Customer Contact Center. 

For informational purposes only, this PBGC communication may contain links to websites not affiliated with the United States Government.  Links to these websites do not constitute an endorsement or approval by PBGC or any of its employees regarding the information, service, product, or provider presented on the website. PBGC cannot attest to the accuracy of information provided by such websites.  Please see PBGC's full disclaimer here. 

Our customer surveys show us that many visitors to PBGC.gov are looking for an estimate of their retirement benefit. We'd love to provide an instant benefit estimate via MyPBA, but it takes our trained pension experts time to carefully evaluate your personal benefit situation in order to give you an accurate estimate.

Pension Calculator

Calculating pension benefit estimates is complicated because each plan has its own rules, provisions and benefit formulas. No two plans are the same! After we determine the plan's benefits, we apply legal limits to your individual benefit.  We want to make sure we're paying all the benefits you're due, up to the legal limit. More...

Canadian postal workers are scheduled to go on strike July 2, which could affect delivery of pension checks to retirees who receive payments via regular mail living in Canada. The Pension Benefit Guaranty Corporation (PBGC) will mail checks one day early to try to offset any potential delays caused by the strike.

If you have not received your pension check by July 8, please call PBGC's Customer Contact Center at (800) 400-7242 for assistance.

PBGC will pay retirement benefits for more than 2,700 current and future retirees at Walter Energy Inc., a producer and exporter of coal based in Birmingham, Ala.

The agency is stepping in because Walter Energy plans to sell the majority of its assets in bankruptcy proceedings and the potential buyers have signaled they will not assume the pension plan.

Walter Energy sponsors the Pension Plan for Salaried Employees of Walter Energy Inc. Subsidiaries, Divisions and Affiliates. This plan will end on Dec. 31, 2015. More...

HCTC Logo

In case you missed it, on June 29, President Obama signed legislation to extend the Health Coverage Tax Credit (HCTC) through the end of 2019.

The IRS is currently reviewing this legislation and is working with its partners - including PBGC - to implement the HCTC program. Individuals cannot yet claim the HCTC credit since the program is not yet implemented. In the meantime, the IRS issued guidance for those who may be eligible for the credit.

The HCTC is a federal tax credit that pays a significant portion of qualified health insurance premiums for eligible individuals. This includes people who are 55-65 years of age and receive benefits from PBGC.

For the latest HCTC updates, visit PBGC's HCTC webpage and blog, Retirement Matters. While you're there, subscribe to the blog to make sure you receive all HCTC updates.