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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Apr 24, 1980
Page
16
The News explains PBGC guarantees for about 80000 pensions covering around 1 million people and outlines how the agency uses taxpayer funds, company payments, and a congressional formula to determine full pension versus 80 percent support. It notes PBGC staff compute each beneficiary’s benefit and the process can take months.
Report outlines how retirees once paid in full may face pension reductions and required paybacks to PBGC. PBGC has authority to waive, has done so only once. Readers urged to contact PBGC for details via Peter Kirsch and to seek information on their rights. Avalanche speeds create deadly air blasts and debris after mountain slides, forcing evacuations and destroying homes and roads.
Americans show rising pessimism about the outlook with the University of Michigan consumer confidence index at a record low for March and the Conference Board index falling to 71. The surveys of about 5,000 households reflect fear of worsening business conditions and scarce jobs, with a growing share predicting fewer opportunities and worse employment prospects.
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