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Social Security’s Disability Insurance (SSDI) program has existed for nearly 60 years. Over that time, it has morphed from a relatively small-scale, anti-poverty program into a massive system that provides benefits to one out of every 20 working-age individuals. Despite its size and expense, the program fails to keep millions out of poverty.
On October 14, 2022, the Pension Benefit Guaranty Corporation ("PBGC") published its proposed rule under ERISA Section 4213 (the "Proposed Rule"), which sets forth for the first time.