Blitman & King Successfully Represents a Group of Approximately 60 Retirees Before PBGC

Tags: Employee Benefits Practice

Recently we successfully represented a group of approximately 60 retirees before the Pension Benefit Guaranty Corporation (“PBGC”). The PBGC had significantly reduced the pensions of the group due to a Plan Amendment that allegedly increased benefits within five years of Plan termination – – a violation of PBGC rules. Based on lengthy negotiations between this Firm and PBGC counsel, the PBGC changed course and determined not to reduce pension benefits because of the Amendment. Based on the resolution, the pension benefits of each member of the group increased, in many cases by hundreds of dollars per month, allowing the individuals to better enjoy their retirement.