PBGC is a federal agency created by the Employee Retirement Income Security Act of 1974 (ERISA) to protect pension benefits in private sector defined benefit plans - the kind that typically pay a set monthly amount at retirement. If your pension plan is insured by PBGC and it ends without sufficient money to pay all benefits, PBGC’s insurance program will pay you the benefit provided by your pension plan up to the limits set by law.
PBGC operations are financed by insurance premiums, investment income, and assets and recoveries from failed single-employer plans.
Yes. The Retirement Plan for Bargaining Unit Employees of Fostoria and Greenville
is covered under Title IV of ERISA.
Yes. PBGC is taking steps to assume responsibility for the pension plan. PBGC is taking this action because the plan meets the criteria for plan termination.
Any participant inquiries prior to PBGC taking over administration of the plan should be directed to: Retirement Plan for Bargaining Unit Employees of Fostoria and Greenville at 888-346-8460.
Yes. PBGC will provide additional information on pbgc.gov in the coming days on the steps it is taking to become responsible for the pension plan.