Posts tagged Pension Benefits Guaranty Corporation
Walberg, Allen Seek Trump DOJ Assistance in Recovering Bailout Payments that Funded Pensions for Dead People
February 21, 2025 // The Committee’s oversight work highlighted gross mismanagement of the Special Financial Assistance (SFA) program that was included in the American Rescue Plan Act. Taxpayers funded pensions for dead people to the tune of more than $164 million for 33 plans that have paid the money back. However, more than 30 other union plans have yet to pay back any of the overpayments. In the letter, the chairmen write: “As part of this investigation, the Committee is seeking information about the steps DOJ is taking to ensure that taxpayer money is recovered after the Biden-Harris administration made improper payments to multiemployer pension plans."
Foxx, Good Bring DOL Chief Lawyer into Dead Teamsters Pension Overpayment Investigation
April 4, 2024 // “The Committee recognizes that, as Solicitor of Labor, you are the principal counsel to Acting Secretary of Labor Julie Su, who also serves as the acting chair of PBGC’s Board of Directors… The Committee is interested in what advice and legal interpretations you and SOL have provided to PBGC regarding its legal authority to recapture these overpayments from both before and after DOL’s publication of its statement.” The letter continues: “In addition, the Committee understands that SOL could play a role in how PBGC responds to inquiries from Congress and the public. Unfortunately, despite multiple inquiries, PBGC’s responses have been unacceptably incomplete. PBGC’s failure to provide full and forthright information is obstructing the Committee’s ability to consider H.R. 7135, the Ghost Handouts and Overpayments Stop Today Act (GHOST Act), or similar legislation to ensure PBGC meets its obligation to reclaim any overpayment it made in the SFA program.”