CHICAGO (Legal Newsline) — The U.S. Department of Labor (DOL) announced May 25 that the partnership between its Employee Benefits Security Administration and the Pension Benefit Guaranty Corporation has recovered close to $1.5 million for participants in two terminated Chicago-based pension plans.
“The partnership between PBGC and EBSA’s Chicago Regional Office has increased our ability to reunite pensioners with their benefits,” said Jennifer Messina, director of PBGC’s Participant Services Department. “This collaboration leverages the capabilities of both agencies to fulfill our collective mission to ensure that people receive the pensions they are owed.”
EBSA’s Chicago Regional Office and PBGC are currently working to locate roughly 1,200 participants of the Hartmarx retirement income plan and the United Airlines ground employees’ retirement plan. These participants are owed benefits, and 100 of them are 65 or older and are eligible to begin receiving the benefits. The PBGC took responsibility of these plans in 2009 and 2005, respectively.
“There are more than a thousand participants owed pension benefits whom we’re working to locate,” said Jeffrey Monhart, EBSA’s regional director in Chicago. “Teaming with PBGC enhances our efforts to find eligible participants in these two retirement pension plans as well as other plans to ensure they receive the benefits they are rightfully entitled to and worked so hard to earn.”