Skip to main content

This page has not been translated. Please go to's Spanish home page for more information available in Spanish.

Esta página no ha sido traducida. Por favor vaya a la página principal del sitio de español de PBGC para ver información disponible en español.

Statement on Letter to House Education and Workforce Committee Chairwoman Foxx and Subcommittee Chairman Good


The Special Financial Assistance (SFA) Program, established under the American Rescue Plan Act of 2021 (ARP), provides funds to severely underfunded multiemployer pension plans that were facing insolvency and ensures that millions of workers, retirees, and their families receive the pension benefits they earned through many years of hard work.

PBGC has worked closely with the Office of Inspector General (OIG) since enactment of ARP to improve data collection and accuracy and swiftly implement OIG recommendations, including addition of a PBGC-conducted independent death audit.

All PBGC SFA approvals made after November 1, 2023, incorporate the results of the expanded Social Security Administration Death Master File cross-checking of the plan’s census data.

With respect to SFA approvals made before that date, PBGC supports repayment of any material SFA amount that was paid based on inaccurate census data and continues to explore any potential mechanism for recovery with executive branch partners, including the Civil Division of the U.S. Department of Justice. PBGC would also support legislation to enhance its recovery authorities for the SFA program.

A copy of PBGC’s letter to House Education and Workforce Committee Chairwoman Foxx and Subcommittee Chairman Good is available.

About PBGC

PBGC protects the retirement security of over 31 million American workers, retirees, and beneficiaries in both single-employer and multiemployer private sector pension plans. The agency’s two insurance programs are legally separate and operationally and financially independent. PBGC is directly responsible for the benefits of nearly 1.4 million participants and beneficiaries in failed single-employer pension plans. The Single-Employer Program is financed by insurance premiums, investment income, and assets and recoveries from failed single-employer plans. The Multiemployer Program is financed by insurance premiums and investment income. Special financial assistance for financially troubled multiemployer plans is financed by general taxpayer monies.

Statement Number: