Press Releases

WASHINGTON – Today, Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) issued the following statement on the Department of Labor (DOL) directing the Pension Benefit Guaranty Corporation (PBGC) to return $127 million in overpayments for dead Teamsters:

“The evidence of PBGC’s blatant mismanagement has mounted for months – it’s about time DOL acted in the best interest of hardworking taxpayers. I have hammered both agencies on this issue every step of the way, and though this outcome is a step in the right direction, it remains abundantly clear that there is serious room for improvement. Americans deserve and demand unfettered accountability and effective oversight – anything less will not suffice.”

BACKGROUND:

DOL’s directions to PBGC come after significant oversight from the Education and the Workforce Committee.

Just days before PBGC Director Gordon Hartogensis will appear before the Subcommittee on Heath, Employment, Labor, and Pensions to answer for the Biden administration’s waste and abuse of taxpayer dollars, DOL has stated that multiemployer pension plans must repay the overpayment amounts.

On January 16, the Committee demanded PBGC explain its actions regarding overpayments by January 29. PBGC did not respond until February 9. When PBGC responded, it failed to provide the information requested.

On February 26, the Committee reiterated its requests to PBGC with a one-week deadline. PBGC again required additional time to answer.  When PBGC responded on March 11, it again failed to provide complete responses.