PBGC continues to work with the J.C. Penney Corporation, Inc. to protect the interests of the pension plan’s current and future retirees.
In November 2020, PBGC initiated steps to take responsibility for the plan. Those efforts were put on hold so the company could explore options to avoid the need for PBGC to become responsible for the plan and prevent possible cuts to benefits. Since then, the company has announced its intent to execute a standard termination of the plan in which participants will receive all benefits accrued as of December 31, 2020.
For more information on the transaction please visit J.C. Penney’s Restructuring Information.
J.C. Penney pension plan participants with questions about their benefits should contact the J.C. Penney Benefits Center, Monday through Friday 8:00 a.m. to 8:00 p.m., Central Time.
By telephone: 1-888-890-8900