Pension Benefit Guaranty Corporation (PBGC) representatives will meet with current and former workers and retirees covered by the Granite City Pension Plan for Chemical Workers and the Granite City United Steelworkers of America Pension Plan to explain the federal pension program and answer questions. There will be meetings specifically for retirees whose benefits will be adjusted and general meetings for all other participants.

PBGC took over the plans on May 31, 2003, and continued uninterrupted payment of benefits to retirees. The plans cover about 5,000 people and are underfunded by approximately $306 million. PBGC uses its assets to make up the shortfall and guarantees to pay benefits as promised by the plan up to the maximum allowed by law.

The meetings are being held at:

At the meetings PBGC will copy and certify any proof documents (birth and death certificates, marriage licenses, etc.) that participants bring to the meetings. Anyone with questions should contact PBGC's Customer Service Center at 1-800-707-7242. For hearing-impaired TTY/TDD users, call the federal relay service toll-free at 1-800-877-8839 and ask to be connected to 800-707-7242.

PBGC is a federal corporation created under the Employee Retirement Income Security Act of 1974. It currently guarantees payment of basic pension benefits earned by over 44 million American workers and retirees participating in more than 31,500 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and investment returns.