Compliance | December 22nd, 2022 Plan Sponsors That Like Saving Money Get Good News on Variable-Rate Premiums If SECURE 2.0 passes, PBGC would stop increasing the rate.
Compliance | December 13th, 2022 2023 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plan
Compliance | December 2nd, 2022 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.
Compliance | November 23rd, 2022 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.
Investing | November 21st, 2022 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.
Compliance | November 21st, 2022 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.
Compliance | November 3rd, 2022 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...
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 | October 7th, 2022 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...
Compliance | September 27th, 2022 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...
Compliance | September 26th, 2022 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...
Compliance | August 31st, 2022 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...
Data and Research | August 12th, 2022 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 | August 9th, 2022 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...
Compliance | July 21st, 2022 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.
Compliance | July 8th, 2022 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...
Compliance | July 6th, 2022 Final Stressed Union Pension Assistance Rule Issued by PBGC After months of operating on an interim basis, the Special Financial Assistance program for multiemployer pensions has been formally finalized...
Benefits | May 24th, 2022 PBGC Approves Assistance for Five More Multiemployer Plans in May Special Financial Assistance program to date has approved more than $6.2 billion to cover nearly 120,000 participants.
Benefits | April 28th, 2022 PBGC Greenlights Over $300 Million For 3 Multiemployer Pensions The Special Financial Assistance program funding will cover benefit payments for almost 2,000 participants.
Compliance | March 4th, 2022 Understanding PRT: Administrative and Fiduciary Considerations One important distinction to make when considering a pension risk transfer is the difference between fiduciary and settlor functions.