PBGC has taken over as trustee of your pension plan. PBGC is now responsible for paying your pension benefits up to the limits set by law.
What this means for you:
- Expect a letter in the mail from PBGC informing you that we are now responsible for paying your pension benefits.
- If you are already receiving pension benefits 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. Due to these limits, some participants may receive a pension benefit that is less than the amount provided for by the plan.
- If you are not yet receiving pension benefits, 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:
Collect and verify information about all participants and beneficiaries
Review and verify plan and participant records
Calculate benefits, subject to legal limits, owed to all participants and beneficiaries