Tag: PBGC

Support is approved for Teamsters Local 111, Marine Carpenters Fund, UFCW Tri-State Plan and I.B.E.W Pacific Coast Fund.

Money from the Special Financial Assistance Program will help the pension fund, which was projected to become insolvent in 2032.

Aid to Michigan-based fund will benefit it more than 22,000 participants. 

The premium due date for many plan sponsors, as well as the deadline for seeking a refund on 2023 premium...

The Newspaper Drivers Local 473 Plan will receive funding under the federal Special Financial Assistance Program.

The full amount is $5.7 billion, issued through the federal SFA program.

According to the latest Pension Benefit Guaranty Corporation projection report, solvency is expected for both insurance funds.

The update provided examples of securities in aggregate bond indices that would be considered investment-grade fixed-income securities for SFA investments.

Without the assistance, the pension fund was predicted to become insolvent in 2034.

Deva Kyle, an experienced employee benefits expert, was nominated to become the next director of the Pension Benefit Guaranty Corporation.

The Kansas plan received a grant of $43.1 million.

Lowering premiums might spur some organizations to consider offering a defined benefit plan, which could be an additional form of...

The multiemployer pension funds cover about 200,000 participants.

The grant will protect the retirement benefits of 24,288 participants.

The 2 grants total $90 million and will help cover about 2,000 workers.

Retirement plan and benefit disclosures should only be given to participants if they contain actionable information, industry groups say.

The regional plan, based in New Jersey, has more than 4,000 participants in food service.

The Biden administration has not yet nominated a full director.

The recommendations include: lower PBGC fees costs and allowing DC to DB transfers.

The two local plans received SFA grants to protect their solvency through 2051.