Administration
Follow up to Recommendation Regarding Projected Benefit Payments in Special Financial Assistance Applications (SR-2026-01), issued December 09, 2025
We reviewed five multiemployer plans paid SFA, prior to November 1, 2023, to determine whether PBGC implemented its retrospective death audit procedures, which included repayment of any excess SFA. Based on our review, we determined PBGC implemented corrective actions, ensuring the return of overpayments. Specifically, over a period of about 18 months, PBGC reviewed 64 plans for the inclusion of deceased participants in their SFA applications and directed the repayment of $262 million in taxpayer dollars to the U.S. Treasury Department. As a result of the actions taken the recommendation is now closed.
