Compliance | March 2nd, 2022 Lawmakers Unveil Multiemployer Pension Rescue Tracker The website keeps tabs of multiemployer plans that have received the Pension Benefit Guaranty Corporation’s special financial assistance.
Compliance | January 19th, 2022 Supreme Court Declines Review of Delphi Pension Case Former non-union employees of the auto parts maker sought to overturn the Pension Benefit Guaranty Corporation’s decision to terminate their...
Compliance | January 19th, 2022 Second Struggling Union Pension Wins PBGC Financial Support Alongside confirming that the payment has now gone out to Local 138, PBGC this week announced it has approved a...
Compliance | December 22nd, 2021 PBGC Greenlights Funds for First Special Assistance Application The first approved application is from a multiemployer pension plan that was projected to become insolvent by 2022.
Compliance | December 15th, 2021 2022 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plan
Administration | November 29th, 2021 Reasons Not to Use Pension Funding Relief Using funding relief to lower contributions to DB plans can increase PBGC premiums and get those plan sponsors that are...
Compliance | November 16th, 2021 American Rescue Plan Act Turns Things Around for PBGC Multiemployer Plan Program For the first time in 20 years, both of PBGC’s insurance programs are reporting positive net financial positions.
Compliance | September 22nd, 2021 PBGC Addresses Multiemployer Plan SFA Applications Received Before Final Rule The agency is accepting applications before a final rule is published and says any changes will not reduce the amount...
Compliance | September 14th, 2021 DOL Asks for Comments on Proposed Changes to Form 5500 The agency—which says the revisions are needed to implement provisions of the SECURE Act—has also published a notice of proposed...
Administration | September 3rd, 2021 Will Multiemployer Plan Financial Assistance Work? Stakeholders take issue with the permissible investments under the PBGC’s interim final rule, among other things, and even if special...
Compliance | July 9th, 2021 Regulators Issue Guidance on Multiemployer Plan Assistance PBGC has issued an interim final rule addressing assistance requirements, and the IRS has released a notice for plan sponsors...
Compliance | April 13th, 2021 Potential Pitfalls in Union Pension Relief Program The relief included in the latest stimulus program is a major win for stressed union pensions, but sources say there...
Compliance | April 7th, 2021 PBGC Simplifies Withdrawal Liability Calculation for Multiemployer Pension Plans The agency expects the changes will reduce actuarial fees paid by multiemployer plans, but it admits the simplified methods might...
Compliance | January 19th, 2021 Stars Have Aligned for Union Pension Funding Action Sources hopeful for Congressional action say arguments about saving union pensions should be linked to the broader social and economic...
Compliance | January 4th, 2021 PBGC Announces Settlement to Benefit Multiemployer Pension Plan The agency says the agreement delays the plan’s insolvency date and reduces the expected burden on its multiemployer plan insurance...
Compliance | December 16th, 2020 A Conversation With a Union Pension Funding Advocate One outspoken advocate for the Butch Lewis Act says the time is ripe for addressing the funding challenges faced by...
Compliance | December 14th, 2020 PBGC Programs in Very Different Positions The single-employer program is improving, but Director Gordon Hartogensis says it’s clear legislative help is needed for the multiemployer program.
Compliance | December 2nd, 2020 DOL Reveals Changes to 2020 Form 5500 Modifications include updates in response to the SECURE Act.
Compliance | November 23rd, 2020 IRS Modifies CARES Act Due Date for DB Plan Contributions The extended due date for contributions could help plan sponsors reduce PBGC variable rate premiums.
Compliance | November 6th, 2020 J.C. Penney Pension Plan Taken Over by PBGC The company recently entered an asset purchase agreement designed to allow it to emerge from Chapter 11 bankruptcy, but the...