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FOR IMMEDIATE RELEASE
January 06, 2006
PBGC Public Affairs
202-326-4343
PBGC Will Meet With Participants in Murray Inc. Pension Plans
WASHINGTON-Pension Benefit Guaranty Corporation (PBGC) representatives will meet with former workers and retirees covered by the Murray Inc. Pension Plan for Hourly Paid Employees and the Murray Inc. Employees’ Retirement Fund Plan to explain the federal pension program and answer questions.
PBGC took over the plans on August 1, 2005, and continued uninterrupted payment of benefits to retirees. The plans cover
more than 4,400 workers and retirees and are underfunded by about $115 million. PBGC uses its assets to make up the shortfall
and guarantees to pay benefits as promised by the plans up to the maximum allowed by law.
The meetings will be held as follows:
|
Location
|
Date
|
Times
|
Type
|
|
City Administration Building City Hall 233 West Gaines |
1/17/06 | 10-11 a.m 7-8 p.m |
Hourly Participants Salaried Participants |
|
City Administration Building City Hall 233 West Gaines |
1/18/06 |
10-11 a.m |
Hourly Participants |
Anyone with questions should contact PBGC’s Customer Contact Center at 1-800-400-7242. For TTY/TDD users, call the federal relay service at 711 and ask to be connected to 800-400-7242. If you plan to attend the meeting and require an interpreter, please call the Customer Contact Center at the number above at least seven days before the meetings so that we can secure an interpreter in your area.
PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974. It currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 31,000 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns.
