Late last year, as part of the American Rescue Plan, Joe Biden injected nearly $36 billion to help the troubled Central States Pension Plan. Now, a bizarre twist has emerged.
A House of Representatives Committee alleges that $127 million of that relief was paid to deceased participants in the plan, which was handled inappropriately by the Pension Benefit Guaranty Corporation (PBGC). The PBGC disputes that claim, but the Biden administration is facing a congressional probe into the affair. Virginia Foxx (R–N.C.), chair of the House Education and the Workforce Committee, and Bob Good (R–Va.), chair of the Health, Employment, Labor, and Pensions Subcommittee, sent a letter to PBGC director Gordon Hartogensis demanding answers surrounding the agency's refusal to recover the $127 million in taxpayer money it sent to fund pensions for at least 3,479 deceased participants in the Central States, Southeast, and Southwest Areas Pension Fund (Central States Pension Fund).
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