5.23.19 – Protecting PBGC Pension Holders
Thursday, May 23, 2019
Several pieces of legislation were recently introduced to address two issues that affect Pension Benefit Guarantee Corporation (PBGC) pension holders. The PBGC is a government agency that protects the retirement security of 37 million Americans in private-sector pension plans by ensuring that employees receive a pension when a company files for bankruptcy and is, therefore, able to void out their pension obligation. Though this agency serves as a necessary safety net, the PBGC is, in some cases, only able to fulfill a portion of a promised pension when a company fails to meet its commitment. These employees are then left to account for the difference between the pension they were promised and the pension they actually receive through the PBGC.
Support bill H.R. 1939 introduced by Rep. Turner (OH-10)
Ask your Senators to introduce a companion bill in the Senate
202-224-3121
2. APFA stands with the mine workers represented by UMWA who are fighting for their pensions. If Congress does not pass legislation to fund their pensions, they are at risk of being turned over to the PBGC, where their pensions may end up dramatically reduced. Some APFA members have suffered through our own pension reductions when airline pensions were turned over to the PBGC. We know firsthand how disrespectful this is to employees to see hard-earned pensions replaced and cut. However, this legislation also impacts more than only mine workers. This affects all PBGC holders. Should the mine workers’ pensions be rolled into the PBGC, it could destabilize the PBGC for anyone who currently holds a PBGC pension.
Support bills H.R. 934 & 935 in the House and S. 27 in the Senate
202-224-3121
Allie Malis
APFA National Government Affairs Representative
[email protected]
Kim Tuck
APFA Retirement Specialist
[email protected]
APFA Headquarters
1004 West Euless Boulevard
Euless, Texas 76040
M-F: 9:00AM - 5:00PM (CT)
Phone: (817) 540-0108
Contract & Scheduling Desk
M-F: 9:00AM - 5:00PM (CT)
Phone: (817) 540-0108
After-Hours Live Chat
Weekends / Holidays: 9:00AM - 5:00PM (CT)
Currently, no scheduled events...
APFA Headquarters
1004 West Euless Boulevard
Euless, Texas 76040
M-F: 9:00AM - 5:00PM (CT)
Phone: (817) 540-0108
Contract & Scheduling Desk
M-F: 9:00AM - 5:00PM (CT)
Phone: (817) 540-0108
After-Hours Live Chat
Weekends / Holidays: 9:00AM - 5:00PM (CT)
Currently, no scheduled events...
APFA Headquarters
1004 West Euless Boulevard
Euless, Texas 76040
M-F: 9:00AM - 5:00PM (CT)
Phone: (817) 540-0108
Contract & Scheduling Desk
M-F: 9:00AM - 5:00PM (CT)
Phone: (817) 540-0108
After-Hours Live Chat
Weekends / Holidays: 9:00AM - 5:00PM (CT)
Currently, no scheduled events...