May 28 - United has been informed that the PBGC is making a policy change that becomes effective June 1, 2021. This change will allow participants who are eligible for a PBGC benefit and are eligible for early retirement* to commence their PBGC benefit while still actively working at United.
United has been informed that the PBGC is making a policy change that becomes effective June 1, 2021. This change will allow participants who are eligible for a PBGC benefit and are eligible for early retirement* to commence their PBGC benefit while still actively working at United. Historically, participants eligible for a PBGC benefit could commence their benefit while actively working only if they were at or above normal retirement age, or upon separation from service (if early retirement eligible).
The PBGC plans to formally communicate this upcoming change in the near future as they finalize the details. At this time, the timeframe for requesting an application to commence has not changed. Eligible participants should request an application at least four months (six months is preferred) before the desired date of the first pension payment.
Please note immediate action is not required to take advantage of the June 1 benefit start date. If you’re currently eligible to receive early retirement benefits, the PBGC will offer the June 1, 2021, benefit start date even if you choose to apply later, whether months or years from now. In this situation you would receive back payments. Visit https://www.pbgc.gov/workingretirement to find further information.
*Note: Refer to your individual plan for full eligibility details
