Technicians Update
May 17, 2021
Re: PBGC Policy Change
Dear Brothers and Sisters,
This email is for our Sub-UAL members who participated in the United Airlines Pension that was taken over by the PBGC in May of 2005. I talked with a PBGC representative yesterday and as of June 1, 2021, the long-standing requirement for the employee to terminate or separate their employment with United to start receiving early age retirement benefits will be eliminated. You will want to be aware of tax consequences and the effects of early age penalties on the benefit you will receive.
There is a lot of work going on at the PBGC including website redesign and messaging tools to manage this change. As such they expect a back log of requests and for some time, however they plan on paying the benefit retro to June 1st for those delayed by the process. The PBGC has agreed to keep us informed so we can pass the information on to you and we have shared the same with United Company Benefits/Pension representatives.
This is yet in its infancy so please allow the work that the PBGC is doing behind the scenes to materialize.
Fraternally,
Bob Clever
IBT Airline Division Benefits Coordinator
PBGC Policy Change