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...
Tag: PBGC
Benefits |
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 |
PBGC Greenlights Over $300 Million For 3 Multiemployer Pensions
The Special Financial Assistance program funding will cover benefit payments for almost 2,000 participants.
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.
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.
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...
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...
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.
2022 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
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...
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.
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...
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...
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...
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...
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...
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...
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...
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...
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...