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Local 707 Retirees in New York on Road to Getting Benefits Restored Due to Butch Lewis Act and PBGC
Pension Rights Center Jan. 25, 2022 "The plan should receive its SFA lump sum payment by March 20 ... Retirees who had their benefits cut should begin getting repaid as early as three months after the PBGC makes the SFA payment to the plan. Over 90 percent of the plan's retirees have been receiving reduced benefits since the plan became insolvent. Forty-four percent of the Local 707 retirees saw their benefits reduced by more than 50 percent." |
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