Construction Pension Fund With More Than 8,000 Participants Rescued by PBGC
The Kansas plan received a grant of $43.1 million.
Tag: Pension Benefit Guaranty Corporation (PBGC)
PBGC Closer to Receiving Pension Plan Restitution Payments
Following a federal court order in Pennsylvania, the Pension Benefit Guaranty Corporation is nearer to forcing a bankrupt construction company...
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Why PBGC’s Flat-Rate Premiums Need to Drop
Lowering premiums might spur some organizations to consider offering a defined benefit plan, which could be an additional form of...
PBGC Issues More Than $5B in SFA Grants in One Week
The multiemployer pension funds cover about 200,000 participants.
$8M Repayment of Excess SFA Money Coming From Illinois Multiemployer Pension
The refund is the second such settlement related to overpayment of Special Financial Assistance due to the inclusion of deceased...
PBGC Grants More Than $500M to CWA/ITU Pension
The grant will protect the retirement benefits of 24,288 participants.
2 Struggling Plans Receive PBGC Aid
The 2 grants total $90 million and will help cover about 2,000 workers.
Industry Groups Recommend Fewer and Staggered Retirement Plan Disclosures
Retirement plan and benefit disclosures should only be given to participants if they contain actionable information, industry groups say.
PBGC Issues $54.6M SFA Package to UFCW Plan
The regional plan, based in New Jersey, has more than 4,000 participants in food service.
PBGC Sues to Recover Losses Caused by Trustee’s Asset Transfer
The Pension Benefit Guaranty Corporation claims a shuttered California corporation’s CEO transferred plan assets to a business checking account.
Ann Orr Named New PBGC Acting Director
The Biden administration has not yet nominated a full director.
NIRS Offers Congress 6 Recommendations for Expanding Access to Private-Sector Pensions
The recommendations include: lower PBGC fees costs and allowing DC to DB transfers.
PBGC Seeks $1 Million+ in Liability Payments From Pension Plan in Trusteeship
The Pension Benefit Guaranty Corporation is seeking damages from a construction company after the PBGC took over its terminated pension...
PBGC Rescues Teamsters and UFCW Plans
The two local plans received SFA grants to protect their solvency through 2051.
Central States Has Repaid SFA Overpayment
The multiemployer plan was overpaid $127 million for the accidental inclusion of about 3,500 dead participants in their grant application.
Comment Period Extended for SECURE 2.0 Reporting, Disclosure Rules
Federal agencies are seeking advice on how to improve the reporting and disclosure system for retirement plans governed by ERISA.
PBGC Says Central States Will Reimburse SFA Overpayment
Central States is currently working with the DOJ to negotiate the repayment of a $127 million overpayment from the PBGC.
Aon Projects PRT Market Will Again Climb Above $40B
2024 has already seen significant activity, with Shell and Verizon both conducting large pension risk transfers in the last few...
Central States Pension Plan Negotiating $127M Repayment With DOJ
With the PBGC director at a subcommittee hearing, House Republicans indicated the PBGC should lower premiums for its single-employer insurance...
DOL Says Central States Must Repay $127M SFA Overpayment
Central States was granted $127 million that it was not entitled to because the PBGC counted over 3,000 deceased participants...