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PBGC Blog: Retirement Matters

Good news! You can now call the IRS's toll free number for assistance on how to claim your Health Coverage Tax Credit. Simply visit the IRS page at Health Coverage Tax Credit or dial the IRS HCTC line at 1-844-853-7210.

HCTC is an IRS tax credit for health insurance premiums that President Obama signed into law in 2015. This legislation extends the HCTC through the end of 2019.

This tax credit may apply to certain individuals who are ages 55-65 and receiving benefits from PBGC.

For 2017, individuals can enroll with IRS to receive advance monthly payments of their tax credit.

Got Questions?

With tax season quickly approaching, PBGC strives to provide individuals with current information on how to claim this tax credit.

Please check out the revised FAQs on PBGC's HCTC webpage. If you have questions regarding your PBGC pay status, or need proof of PBGC payee status, we can assist you at 1-800-400-7242.

Many of us have friends or family members who have been targeted by a fraud or a scam, or maybe it has even happened to you personally. These scams are becoming more sophisticated, and being a target can be scary and confusing.

To help you identify and avoid these scams, PBGC posts fraud alerts in cooperation with its Office of Inspector General to spread awareness about current scams and to limit their impact.

The most recent December 9, 2016, fraud alert, Unsolicited Telephone Calls from PBGC Imposters, warns pension recipients and the general public about scams involving people claiming to be PBGC employees who are calling people regarding pensions they may or may not have earned. The scammers were able to "spoof" the caller ID so that the recipient believed the call was coming from PBGC headquarters in Washington DC. More...

This entry is part of the Director's Hub blog series. You'll hear from our Director, Tom Reeder, about the importance of preserving pension plans and protecting retirement security. Check out Tom's bio to learn more about him.

2016 Annual Report

On November 15, we issued our Fiscal Year 2016 Annual Report. The report describes our accomplishments and gives a snapshot of the financial condition of our insurance programs.  Here are a few highlights: 

  • We paid $5.7 billion in benefits to nearly 840,000 retirees and beneficiaries in failed single-employer plans.
  • We paid $113 million in financial assistance to 65 insolvent multiemployer plans so they could pay guaranteed benefits to over 59,000 retirees and beneficiaries.
  • The retirees we serve gave us a score of 90 on the American Customer Satisfaction Index. This score is among the best in the public and private sectors.
  • We negotiated almost $3 billion in financial assurance to protect 367,000 people in plans at risk from corporate events and transactions. More...

 This entry is part of the Director's Hub blog series. You'll hear from our Director, Tom Reeder, about the importance of preserving pension plans and protecting retirement security. Check out Tom's bio to learn more about him.

This week marks National Retirement Security Week, designated by Congress to create awareness about the importance of preparing for retirement. Retirement security is at the heart of PBGC's mission, and this week gives us an opportunity to emphasize the importance of that mission.

Director's Hub logo

I believe in the value of defined benefit pension plans because they provide retirement security in the form of a benefit you can't outlive or outspend. Here at PBGC, we protect the retirement incomes of more than 40 million American workers in defined benefit plans. More...

PBGC will pay retirement benefits for more than 900 current and future retirees of Vertellus Specialties Inc., a manufacturer of specialty chemicals based in Indianapolis, Ind.

The company sponsors the Vertellus Specialties Inc. Defined Benefit Retirement Plan.

Vertellus

PBGC is stepping in because Vertellus and 10 affiliates intend to sell the majority of their assets in bankruptcy proceedings and the potential buyer will not continue the pension plan. More...

Image highlighting California, Louisiana and Mississipps

The United States Postal Service has issued a service disruption alert due to torrential rain and flooding in Louisiana and Mississippi, and wildfires in California. This may potentially impact delivery of pension checks to retirees who receive payments via regular mail in those areas. If you have not received your pension check by Sept. 12, please call PBGC's Customer Contact Center at (800) 400-7242 for assistance.

Did you know PBGC offers electronic direct deposit? It's the safest, most secure way to receive your pension payments. And you'll no longer have to wait for your check to be mailed, or make a trip to the bank to deposit your check. You can sign up through your MyPBA account, or by contacting the Customer Contact Center. 

For informational purposes only, this PBGC communication may contain links to websites not affiliated with the United States Government.  Links to these websites do not constitute an endorsement or approval by PBGC or any of its employees regarding the information, service, product, or provider presented on the website. PBGC cannot attest to the accuracy of information provided by such websites.  Please see PBGC's full disclaimer here.