Pension Benefit Guaranty Corporation Under Fire for $127 Million in Misspent Funds
Washington, D.C. – The Biden administration is now facing a congressional investigation after the Pension Benefit Guaranty Corporation (PBGC) distributed $127 million to deceased participants in a Teamsters’ pension fund, failing to stop the payments. The House Education and Workforce Committee sent a letter demanding records related to the agency’s “mismanagement” and “overpayment” to the union pension plan. Chairwoman Virginia Foxx and Subcommittee on Health, Employment, Labor and Pensions Chairman Bob Good wrote in the …