When does PBGC expect to adjust pension payments to estimated PBGC benefit amounts for those participants who will see a reduction? How long will it take to determine final benefit amounts?
It will take us several months to review all the information needed to calculate our estimated benefits for the entire plan. Given the number of participants, the complexity of the plan, and our desire to give you as accurate an estimate as possible, it may be six to nine months before we adjust benefits to estimated PBGC benefit amounts. It will take several years to fully review the plan and finally determine all benefit amounts. We will notify you in writing of your PBGC benefit determination, and your right to appeal our determination. If you are receiving an estimated benefit, the letter will inform you whether your future payments will change and if so, how much higher or lower they will be.
Related Questions
- As a result of my financial assessment will my benefit/pension credit payments still be paid to me or go straight to Hampshire County Council?
- How do I change the account for the direct deposit of my Variable Benefit payments or Monthly Pension payment?
- Receiving payments from the Pension Benefit Guaranty Corporation (PBGC) and is at least 55 years old?
