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Author Topic: PBGC
Retav8r
Post Captain
Member # 251

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Legislation was proposed a few years ago to resolve the inequities inherent in the way the PBGC computed our retirement benefits. I forgot what the number was for this bill but, supposedly, it would have adjusted our benefits to reflect age sixty-five as the payout level, not sixty. Does anyone know what happened to this legislation? I have a feeling that it died when the new age 65 rule went into effect...yet another screwing by govt; "We're the government and we're here to help you." [Big Grin]

[ 05-23-2009, 11:09: Message edited by: Retav8r ]

Posts: 206 | From: San Diego/ San Felipe,Mexico  |  IP: Logged
Irish
Post Captain
Member # 722

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Don,

S. 1270: Pension Benefit Guaranty Corporation Pilots Equitable Treatment Act, was introduced on May 2, 2007 by U.S. Rep. George Miller (D-CA).

This was a bill to amend title IV of the Employee Retirement Income Security Act of 1974 to require the Pension Benefit Guaranty Corporation, in the case of airline pilots who are required by regulation to retire at age 60, to compute the actuarial value of monthly benefits in the form of a life annuity commencing at age 60.

Regrettably, but not surprisingly, the bill died in committee and was never reintroduced.

Paul

Posts: 1634 | From: Hampton, NH  |  IP: Logged


 
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