PBGC Grants $3.2M to Pennsylvania Construction Pension Fund
The Plasterers and Cement Masons Local No. 94 Pension Fund will see a full restoration of cut benefits.
Tag: Pension Benefit Guaranty Corporation (PBGC)
PBGC Grants $334 Million to Transportation Pension
The pension would have had to cut benefits by 75% upon becoming insolvent.
PBGC Grants Four Struggling Pensions Close to $500 Million in Assistance
One plan had been insolvent since 2009, and the grant will include back payments.
Pension Fund With Very Few Active Participants Granted $36.3M in SFA Funds
The fund had a receiving-to-active participant ratio of nearly 50-to-1 as of 2021.
PBGC Looks to Modernize Actuarial Assumptions
The proposal would change mortality tables and interest rate calculations.
Struggling Ohio Carpenter’s Pension Receives PBGC Aid
$182.6 million in SFA money will be distributed to the plan to ensure its solvency to 2051.
Some 4010 Pension Filers May Qualify for Reporting Waiver
Due to unusual market conditions, many 4010 filers will struggle to determine if they are required to file, so the...
Multiemployer Plans in Service, Printing, Manufacturing Receive More Than $1B in Assistance
The three plans cover more than 30,000 participants across two states and Washington, D.C.
Senate, House Far Apart on DOL Budget
The two appropriation bills are about $4 billion apart in terms of discretionary funding for the department.
PBGC Issues FAQ on Acceptable SFA Investments
Permissible return seeking assets are normally SEC-registered common stock, and investment grade fixed income includes investment-grade bonds and US treasuries.
Ownership Structure, Investment Strategies of Annuities Concern Sponsors, ERISA Council Says
The ERISA Advisory Council discussed emerging trends in the annuities market, as well as concerns expressed by sponsors and other...
Manufacturing, Transportation, Retail Pension Funds Receive PBGC Bailouts
Special Financial Assistance funds were granted to three struggling pension plans by the PBGC on July 11.
PBGC Modifies Benefit Payment Regulations for Terminated Single-Employer Plans
The final rule clarifies lump sum payments, de minimis amounts and payments to estates.
Benefits |
PBGC Grants More Than $2 Billion to PACE and National Integrated Group Pensions
Three smaller plans also received SFA assistance.
PBGC Publishes Q3 Liability, Discount Rates
Interest rates assessed to late payments and discount rates have been adjusted for Q3, the PBGC announced Wednesday.
Senate HELP Committee Asks DOL to Focus on 6 SECURE 2.0 Provisions
Areas including emergency savings and employee ownership were identified as 2024 brings more SECURE 2.0 regulatory deadlines.
Teamsters Local 966 Receives $8 Million in PBGC Supplemental Assistance
The New Jersey-based plan’s total aid from the PBGC now exceeds $60 million.
PBGC Grants More Than $600 Million to 3 Struggling Pension Funds
The pensions are in the service, transportation and manufacturing industries.
Bakery Driver, Newspaper Guild Plans Receive SFA Funds
The PBGC provided SFA assets to two soon-to-be-insolvent pensions, one from New Jersey and one in Pennsylvania.
DOL Offers Guidance for Multiemployer Plans
Bulletin provides FAQ to help plans that received Special Financial Assistance meet notice requirements.