When a business liquidates under Chapter 7, its employee pensions are transferred to the PBGC (Pension Benefit Guaranty Corporation) for "protection." Subsequent pension payments are not adjusted for inflation. Consequently, retirees "protected" by this program see the purchasing power of their pension income drop by 2-5% every year. It is unconscionable that the central government would take control and possession of the money retirees have earned, then force pensioners to see their retirement gradually fade away. PBGC-managed pensions must immediately have all pension payments adjusted for inflation annually retroactive to each pensioner's retirement date.
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