Transportation, Sheet Metal, Service and Manufacturer Pensions Receive PBGC Assistance
Multiemployer pension plans from Baltimore, New York, Puerto Rico and Ohio received a total of $26.7 million of additional assistance.
Tag: PBGC
1 New York, 2 Michigan Pension Plans Receive PBGC Assistance
The three supplemental SFA packages provide a total of more than $200 million.
Ironworker and Plasterer Pension Funds Receive SFA Assistance From PBGC
The two construction pension plans will receive more than $70 million in combined funds.
Special Financial Assistance Provided to 2 Additional Union Pensions
The two union pensions, one in transportation and the other in graphic communications, will receive more than $100 million in...
Plan Sponsors That Like Saving Money Get Good News on Variable-Rate Premiums
If SECURE 2.0 passes, PBGC would stop increasing the rate.
2023 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
New Jersey Teamsters Local 966 Receives $54.1 Million in PBGC Assistance
Teamsters affiliates have received more than $1 billion dollars in PBGC assistance in the last two weeks.
PBGC Grants $85 Million to Struggling Ohio Teamsters Pension
The Ohio-based Teamsters Union Pension Plan was approaching insolvency, and its application for Special Financial Assistance was approved Tuesday.
Struggling Teamsters Pension Receives Close to a Billion Dollars in Assistance
The financing will allow the union pension to both satisfy monthly payments to beneficiaries and provide make-up payments.
PBGC Advisory Board Adds Four Presidential Nominees
Four new appointees make a total of seven, charged with advising the PBGC on investments and other decisions.
Ohio Bricklayers Pension Fund Gets PBGC Bailout
The union plan had been severely underfunded for over a year but can now meet its liabilities to nearly 400...
PBGC Proposes Rule for Multiemployer Pension Withdrawals
The Pension Benefit Guaranty Corporation proposal clarifies assumptions for determining an employer’s withdrawal liability.
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...
What Would a Government Shutdown Mean for the DOL?
The Department of Labor would be able to sustain services deemed essential, as well as those that receive forms of...
Plan Sponsors Consider PBGC Premium Strategies
As plan sponsors near the deadline for changing how they calculate PBGC premiums, some are considering a change in light...
Puerto Rico Hospitality Union Pension Latest to Get PBGC Relief
The stressed union pension plan will receive more than $28 million in special financial assistance, including interest to the expected...
Funded Levels for Multiemployer Plans Tumble in First Half of 2022
The total funding shortfall for more than 1,200 plans balloons by $85 billion in six months.
Benefits |
PBGC to Provide Nearly $800 Million to Rescue 2 Pension Plans
The agency has so far approved $7.4 billion under the Special Financial Assistance Program to pension funds covering more than...
IRS Addresses Mergers Involving DB Plans That Have Received SFA
The ongoing plan must still separate special financial assistance funds and invest them according to final regulations.
Experts Analyze the Finalized Union Pension Relief Funding Framework
A handful of important changes were made this week to the Pension Benefit Guaranty Corporation’s Special Financial Assistance program for...