Renting a new apartment? Buying a house? Applying for benefits from a government agency? If so, someone may ask you to prove your income.
If you get a retirement benefit from PBGC, we'll be happy to verify the amount you receive. Mail us your request in writing, and we'll send income verification to you or a third party (like a landlord or mortgage company).
To protect your privacy, we have to be sure you authorize us to send out this information. So you or the third party will have to follow a few simple steps. You can find complete instructions on our Income Verification Procedures webpage.
There isn't any doubt that the economy has taken a big hit in recent years.
As the housing market begins to rebound and the stock market hits a new high, the percentage of Americans who are confident that they will have enough money for a comfortable retirement is the lowest it has been in 23 years.
According to the latest Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI) only 13 percent were very confident of having a comfortable retirement, while 38 percent were somewhat confident, 21 percent not too confident, and 28 percent not at all confident.
Some of the biggest factors influencing the drop in confidence are high debt levels, and uncertainty about employment.
Read the 2013 EBRI Retirement Confidence Survey Results.
Do you get a PBGC pension check?
If so, you've got a long-term relationship going on — with PBGC.
We're happy about that. But, we want to stay in touch.
Even if your check is deposited directly into your bank account, PBGC still needs your current street address to keep paying you.
So when you move, be sure to tell us your new address.
You can do it online with MyPBA. If you've never used MyPBA, it's easy to get started.
Or, you can change your address through our Customer Contact Center at 1-800-400-7242.
We'll sleep better knowing where you are. And, we promise to drop you a line now and then.
Do you have any idea where the United States ranks when it comes to retirement security? You guessed first place? No, that's not it.
Second? Not that either.
In fact, the U.S. barely made the top 20 ranking. The U.S. ranked number 19, among 150 countries listed by retirement security, behind many Eastern and Western European countries, according to Natixis Global Asset Management firm.
The Natixis Global Retirement Index "gauges how well retired citizens live in 150 nations" based on 20 measures of health, wealth, quality of life and "material well-being" that affect citizens' retirement security.
More...
Millions of Americans take advantage of direct deposit. Whether it's their payroll checks, tax refunds, or benefit payments, many are opting out of paper checks and opting in to convenience.
We want you to know that PBGC offers that same convenience.
Undecided about whether you should switch to direct deposit? Our most recent studies show:
- 8 out of 9 payment delays affect people who get paper checks
- More than one in every 200 paper checks is delayed, usually because of postal issues
Paper checks can also be lost or stolen.
More...
Whether retirement is knocking on your door or decades away, you should have a financial plan in place to help you reach that milestone. Bloomberg Business News published an article that debunks some of the myths about retirement. As the article states, "We're living increasingly in a "yoyo" economy -- short for "you're on your own."
According to the article, here are some of the most common myths about retirement:
MYTH NO. 1: It's OK to postpone saving for retirement until other needs are taken care of.
MYTH NO. 2: Medicare will take care of almost all your health care needs.
MYTH NO. 3: You'll need far less income in retirement to maintain the same standard of living.
MYTH NO. 4: You can claim Social Security early and still get full benefits later.
MYTH NO. 5: You should rely heavily on bonds rather than stocks as you get older.
MYTH NO. 6: Any retirement target-date fund will allow you to "set it and forget it."
MYTH NO. 7: You'll be able to make up a savings shortfall by retiring later or working part-time in retirement.
Read the full article, "7 retirement planning myths debunked."
