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Workers & Retirees

ERISA section 4022(c) - Pellet Hourly

When PBGC takes over responsibility for a pension plan, a claim is filed against the plan sponsor to try to recover the amount that the plan is underfunded. When PBGC recovers some money from the claim, part of the amount recovered is used to pay benefits that are not guaranteed by PBGC. These are called 4022(c) benefits.