Tag: PBGC

The multiemployer plan was overpaid $127 million for the accidental inclusion of about 3,500 dead participants in their grant application.

Federal agencies are seeking advice on how to improve the reporting and disclosure system for retirement plans governed by ERISA.

Central States is currently working with the DOJ to negotiate the repayment of a $127 million overpayment from the PBGC.

2024 has already seen significant activity, with Shell and Verizon both conducting large pension risk transfers in the last few...

With the PBGC director at a subcommittee hearing, House Republicans indicated the PBGC should lower premiums for its single-employer insurance...

Central States was granted $127 million that it was not entitled to because the PBGC counted over 3,000 deceased participants...

According to the fund, an error occurred due to its lack of access to more comprehensive data on deaths.

Improvement is primarily due to SFA grants and asset performance, Milliman finds.

The construction pension fund was 30.25% funded at the end of 2022.

Federal agencies are looking for comments on how to make overall improvements to the current disclosure and reporting system. 

The PBGC is accepting nominations until February 16 for a member to represent the general public.

A schedule to help plan sponsors track important due dates for their plans.

Schedules DCG and H, among others, will be modified for disclosures filed next year.

This could be a reason to lower premiums, though insurance conditions have been volatile before.

The 4044/4050 tables are used to calculate withdrawal liability and missing participant program transfer amounts.

The plan applied for special financial assistance but was denied because the pension fund had previously been terminated.

The plan of 3,887 participants will remain solvent through 2051.

The bucket recipients can use for stock investments is not being filled due to the attractiveness of investment-grade assets.

Guarantee levels for single-employer plans will rise with inflation, but multiemployer plans are not indexed.

The Bureau of Labor Statistics, which would shut down completely, produces the data necessary to update the COLA.