PBGC Grants Four Struggling Pensions Close to $500 Million in Assistance
One plan had been insolvent since 2009, and the grant will include back payments.
Tag: Multiemployer
Struggling Ohio Carpenter’s Pension Receives PBGC Aid
$182.6 million in SFA money will be distributed to the plan to ensure its solvency to 2051.
Sheet Metal Workers Pension Fund Receives Assistance from PBGC
After a year of partial payouts to pension participants, a local Sheet Metal Workers pension plan will receive $29 million...
Report Highlights Dramatic Multiemployer Insurance Deficit
PBGC data shows the multiemployer program had liabilities of $67.3 billion and assets of $2.2 billion as of September 30,...
PBGC Multiemployer Program Still Projected to Become Insolvent
However, the single-employer program is likely to eliminate its deficit within the next three to seven years.
Committee to Pursue Policy Objectives for Multiemployer Plans
The NCCMP will pursue enactment of legislation for a new composite plan for multiemployer plan sponsors, among other things.
IRS Updates Procedures for Applying for Suspension of Benefits
The MPRA permits the sponsor of a multiemployer defined benefit plan in critical and declining status to suspend benefits in...
Multiemployer Plans Have Hope and a Future
Doom and gloom headlines are not the whole story about multiemployer plans.
Multiemployer Plan Member Has No Claim Against Rehabilitation Amendment
WestRock RKT Company claims that the amendment violates ERISA because “critical status [multiemployer plans] with valid rehabilitation plans may not...
Benefit Cuts Could Hit More Than One Million Multiemployer Plan Members
PBGC Director Tom Reeder warned of this in an announcement that the agency is providing assistance to yet another multiemployer...
Multiemployer Plans Have Some Successes
Account balances in multiemployer DC plans have grown, and the funded percentage of multiemployer DB plans has improved, a study...
First Mutltiemployer Plan to Make Benefit Cuts Under MPRA
Members of the Cleveland Iron Workers Local 17 Pension Fund voted by a 2 to 1 margin to approve the...
First Multiemployer Plan Gets Approval for Benefit Cuts
Four previous applications were denied by the U.S. Treasury Department.
Questionable Future for Multiemployer Pension Plans
Milliman reports that multiemployer pension plans’ funded status has been steady so far in 2016, but its analysis shows questionable...
Council Offers Suggestions to Bolster PBGC Multiemployer Plan Program
Among proposals are a change in PBGC premiums and changes in premium structure.
Congressional Gridlock Clouds Retirement Reform
Given the tumultuous political environment it is very difficult to assess the short-term prospects even for popular initiatives, experts warn.
Treasury Rejects Central States’ Application for Suspension of Benefits
A letter from Special Master Kenneth R. Feinberg says the plan to suspend benefits does not meet requirements of the...
Private Equity Funds Liable for Multiemployer Plan Withdrawal Liability
A federal district court found private equity funds that owned a bankrupt company are responsible for that company’s multiemployer pension...
Benefits |
Retirees Nationwide Protest Multiemployer Plan Benefit Cuts
While retirees say the cuts are unfair, regulators say without them, the result could be much worse.
Benefits |
Should Multiemployer Plans Be Replaced by 401(k)s?
This was one suggestion made by a witness at the U.S. Senate Committee on Finance hearing about multiemployer pension plan...