PBGC is verifying plan and participant information to calculate pension benefits. PBGC has sent letters to notify all participants and beneficiaries that we took over as trustee of your plan.
What this means for you:
- In order to serve you better, PBGC has to ensure that we have the correct information about you.
- You can help speed up this process by providing your information on the forms PBGC mails you labeled either Payee Information Form (Form 701) or Beneficiary Designation (not currently receiving pension benefits) (Form 708). You can also download these forms here. If, as of date of plan termination, you are:
- receiving a pension benefit: Payee Information Form
- not yet receiving a pension benefit: Beneficiary Designation (not currently receiving pension benefits)
- If you are already receiving a pension benefit from your plan, we will continue paying you without interruption. These payments will be an estimate of the benefits that PBGC can pay. Your benefit may be adjusted for the limits set by law. To find out more information see: Payment amount
- If you are not yet receiving pension payments, find out more about when you can apply for a pension, here: Apply for your pension benefits
- To find out more about PBGC and the limits set by law, see: Maximum monthly guarantee tables, Payment amount
PBGC's Next Steps:
- Continue verifying information about all participants and beneficiaries.
- Continue verifying plan and participant records.
- Continue calculating benefits, subject to legal limits, owed to all participants and beneficiaries.
- Send you our formal determination of your pension benefit. Please note this may take two to three years from the date we take over as trustee of your plan.