Old North News

Education and the Workforce Committee Chairwoman Virginia Foxx has expressed her satisfaction with the Department of Labor's decision to direct the Pension Benefit Guaranty Corporation (PBGC) to return $127 million in overpayments for deceased Teamsters. Foxx stated, "The evidence of PBGC’s blatant mismanagement has mounted for months – it’s about time DOL acted in the best interest of hardworking taxpayers."

The DOL's directive to PBGC comes after extensive oversight from the Education and the Workforce Committee. Foxx emphasized the importance of holding agencies accountable, stating, "Americans deserve and demand unfettered accountability and effective oversight – anything less will not suffice."

The Committee's efforts to address the issue of overpayments saw PBGC Director Gordon Hartogensis scheduled to appear before the Subcommittee on Health, Employment, Labor, and Pensions. The Biden administration's handling of taxpayer dollars was called into question, leading to the DOL's decision to require multiemployer pension plans to repay the overpayment amounts.

The Committee's demands for transparency and accountability were met with delays and incomplete responses from PBGC. Despite repeated requests for information, PBGC failed to provide satisfactory answers in a timely manner, prompting further scrutiny from lawmakers.