The House Subcommittee on Health, Employment, Labor, and Pensions, chaired by Rep. Bob Good, is set to hold a hearing to examine the policies and priorities of the Pension Benefit Guaranty Corporation (PBGC), amid allegations of mismanagement involving the payment of $127 million in taxpayer money to fund pensions for nearly 3,500 deceased participants. The oversight hearing aims to hold PBGC accountable for what has been described as negligence and abuse of taxpayer funds, following the 'dogged work' of Rep. Virginia Foxx and Rep. Bob Good. The controversy centers around PBGC's refusal to recover the funds, with Rep. Tim Walberg labeling the overpayment as 'negligence.' Meanwhile, Democrats have defended the PBGC's role, highlighting the Special Financial Assistance Program under the American Rescue Plan Act, which they claim saved the pensions of over a million retirees and supported tens of thousands of businesses, underscoring the critical work done to secure the retirement of hard-working Americans.
Today at @EdWorkforceDems, Democrats pointed to the critical work we did to save hundreds of thousands of pensions and help provide secure retirement for Americans. I spoke about the importance of protecting workers’ benefits and taxpayer dollars. Tune in to learn more: https://t.co/YhGE1IwEs5
.@USPBGC sent $127 million to pension plans for dead participants. Surprise, dead people can't spend a pension check. Read the recap from today's hearing in which the Committee held the PBGC Director accountable for mismanaging taxpayer dollars ⤵️ https://t.co/juf3ZECEql https://t.co/ylOYEXgMYo
🧵 BACKGROUND: @virginiafoxx & @RepBobGood have been on @USPBGC for its incompetence and gross mismanagement of taxpayer dollars:
🧵 BACKGROUND: @virginafoxx & @RepBobGood have been on @USPBGC for its incompetence and gross mismanagement of taxpayer dollars:
ICYMI: These are the hard-working Americans whose pensions were saved by the #AmericanRescuePlan. Today's hearing underscores the critical work of the PGBC's Special Financial Assistance Program to secure the support workers deserve. https://t.co/lkvVGotU1r
.@RepWalberg calls the PBGC's $127 million overpayment for dead participants' pension plans: "negligence." https://t.co/quB0MwaIu5
When Democrats passed the American Rescue Plan, the PBGC's Special Financial Assistance Program was created & saved the pensions of over a million retirees. House Democrats will continue to strengthen pension plans & protect the retirement of American Workers. https://t.co/TQ2vbBDG4v
It should NOT have taken "dogged work" from @virginiafoxx, @RepBobGood and the @EdWorkforceCmte for DOL & PBGC to begin recovery of $127 million pension payments for dead people. Watch ⬇️ https://t.co/mnD6mXwZv1
Watch @RepBobGood's scathing opener at an oversight hearing on the Pension Benefit Guaranty Corporation, which sent almost $127 million to fund pensions for nearly 3,500 dead people. "This may come as a surprise to you, but dead people don’t need pension checks." https://t.co/ItxJeWU5dR
#FACTS When Democrats passed the American Rescue Plan Act, the PBGC's Special Financial Assistance program saved over a million retirees pensions and tens of thousands of businesses. #WATCH📺Dems *continue* to fight for retirees, workers, and taxpayers. https://t.co/FYR1EA7WRd
PBGC paid $127 million in taxpayer money to fund pensions for dead participants and then REFUSED to recover the funds. Tune in @ 10:15 AM to watch @EdWorkforceCmte hold the agency accountable for its negligence and abuse of taxpayer funds. https://t.co/1WAKEoc9pS
"A Biden agency called 'PBGC' wanted to fleece the taxpayer of $127 million dollars by funding pensions for dead participants. ... Thanks to the tireless work of the @EdWorkforceCmte, PBGC is being held accountable." @virginiafoxx Full remarks: https://t.co/bvm9e0LoQY https://t.co/RJGG4F1DVw
Tomorrow at 10:15 AM — Health, Employment, Labor, and Pensions Subcommittee Chair @RepBobGood will hold a hearing titled "Examining the Policies and Priorities of the Pension Benefit Guaranty Corporation." WATCH: https://t.co/1WAKEoc9pS https://t.co/12QB4z9o4l