GHOST Act

S 3682, the GHOST Act, requires the Pension Benefit Guaranty Corporation (PBGC) to recover overpayments of special financial assistance made to multiemployer pension plans for deceased participants or beneficiaries. It mandates PBGC to audit participant lists against Social Security’s Death Master File within six months, provide plans a 60-day hearing to dispute claims, and demand repayment within 30 days of a determination. Any recovered funds must be transferred to the U.S. Treasury. The bill directly affects multiemployer pension plans that received PBGC assistance, ensuring taxpayer money is not paid for deceased individuals.