Benefits | October 17th, 2024 Carpenters Pension Fund Gets $635M PBGC Grant Aid to Michigan-based fund will benefit it more than 22,000 participants.
Benefits | August 28th, 2024 Prudential to Complete Industry’s 1st Multiemployer Pension Risk Transfer The $221 million transaction will secure pension benefits for retirees and beneficiaries at Sound Retirement Trust, a multiemployer plan for...
Benefits | August 22nd, 2024 Ohio Multiemployer Pension Fund Gets $31.6M PBGC Grant The Newspaper Drivers Local 473 Plan will receive funding under the federal Special Financial Assistance Program.
Compliance | January 18th, 2024 Taft-Hartley Plan Wants Back $220M Partial Pension Withdrawal Boilermaker-Blacksmith National Pension Trust claims arbitrator Richard C. McNeill Jr. incorrectly ruled that GE satisfied the building and construction industry...
Compliance | November 20th, 2023 PBGC Nearly $50B in the Green, Report Says This could be a reason to lower premiums, though insurance conditions have been volatile before.
Compliance | October 18th, 2023 PBGC Announces 2024 Premiums, Guarantee Levels Guarantee levels for single-employer plans will rise with inflation, but multiemployer plans are not indexed.
Administration | October 6th, 2023 Complaints Filed Against 5 Companies to Collect Money Owed to 2 Teamsters Pension Trust Funds Lawyers for the plaintiff, a third-party administrator, alleged identical claims against each defendant.
Benefits | September 22nd, 2023 SFA Grant Rescues Printer’s Pension Fund The NYC-based plan will receive about $20 million to restore its solvency through 2051.
Compliance | September 18th, 2023 What Does SECURE 2.0 Do for 420 Transfers? Even though it opens the process up for more pension funds to participate, few are likely to take advantage.
Data and Research | March 1st, 2023 Defined Benefit Plans Posted Worst Performance Since 2008 Crisis Last Year But performance for defined benefit plans did rebound in Q4, according to a new report.
Compliance | October 14th, 2022 PBGC Proposes Rule for Multiemployer Pension Withdrawals The Pension Benefit Guaranty Corporation proposal clarifies assumptions for determining an employer’s withdrawal liability.
Compliance | December 4th, 2020 Union Pension Funding Crisis Solution Remains Elusive There are plenty of ideas to address the funding crisis facing certain multiemployer union pensions, but consensus federal legislation remains...
Investing | August 11th, 2020 Actuarial Firms, Treasury Clash Over Union Pension Cuts Lead actuaries at Segal say the Treasury Department is preparing to wrongfully reject an application to reduce benefit payments made...
Compliance | December 21st, 2018 PBGC to Provide Early Financial Assistance to Union Pension The early financial assistance from PBGC, together with benefit reductions that are required as a condition for receiving assistance, will...
Compliance | November 30th, 2018 Butch Lewis Act Said to Only Temporarily Mask Multiemployer Pension Deficits The Pension Analytics Group says the only solution is to reduce benefits across the board, or many of these plans...
Compliance | November 21st, 2018 PBGC to Provide Financial Assistance to Teamsters Local 805 Multiemployer Plan The assistance, along with benefit reductions, will help the plan avoid insolvency.
Compliance | September 13th, 2018 Congressional Democrats Continue Butch Lewis Act Advocacy The Butch Lewis Act offers a way to preserve union retiree pension benefits through an emergency loan program funded with...
Compliance | July 25th, 2018 Stakeholders Beg Congress to Act on Solvency of Multiemployer Pension Plans Passionate testimony from a Teamster to the Joint Select Committee on the Solvency of Multiemployer Pension Plans appeared to outshine...
Compliance | July 10th, 2018 District Court Upholds Use of Segal Blend to Calculate Multiemployer Pension Liability Commenting on the decision, Segal Consulting says it is “consistent with every other decision handed down in similar cases except...
Data and Research | May 21st, 2018 Think Multiemployer Pension Insolvencies Aren’t Your Problem? Tens of thousands of employers in the U.S. contribute to multiemployer pension funds that are in critical and declining status,...