The Pension Benefit Guarantee Corporation (PBGC) annual premium is a pension tax that diverts millions of dollars from LIUNA members’ pension funds, and others like it, every year. That is a lot of money that our pension funds need to pay promised benefits to current retirees and active participants who will retire in the future. In effect, the PBGC is taking money from the pockets of LIUNA members to pay for someone else’s pension.
- LiUNA’s pension funds have been responsible and have taken the necessary steps to save our pension funds.
- If the PBGC further increases our premiums, it will increase the financial burden, potentially impacting the promised benefits for our retirees and current members.
- Every dollar increase in the PBGC premium to bailout other plans that are failing is a dollar that would be better used to provide retirement benefits to our pensioners.
- We have shown that without interference our funds can remain healthy far into the future, but with outside interference we are putting our members’ retirement in peril.
Sign this online petition and let Congress know that we don’t believe an undue burden should be placed upon our funds to bailout other funds that did not make the difficult decisions and take the necessary steps to avoid insolvency.