PBGC Provides More Than $400 Million in Supplemental Funding to New York Teamsters
The NYS Teamsters Conference Plan has now received approximately $1.4 billion in total. The PBGC also provided supplemental relief to...
Tag: Pension Benefit Guaranty Corporation (PBGC)
Transportation, Sheet Metal, Service and Manufacturer Pensions Receive PBGC Assistance
Multiemployer pension plans from Baltimore, New York, Puerto Rico and Ohio received a total of $26.7 million of additional assistance.
Benefits |
Delphi Pension Restoration Bill is Reintroduced
Bipartisan measure would restore pensions to more than 20,000 retirees and provide back pay for benefits that were cut.
1 New York, 2 Michigan Pension Plans Receive PBGC Assistance
The three supplemental SFA packages provide a total of more than $200 million.
Ironworker and Plasterer Pension Funds Receive SFA Assistance From PBGC
The two construction pension plans will receive more than $70 million in combined funds.
Special Financial Assistance Provided to 2 Additional Union Pensions
The two union pensions, one in transportation and the other in graphic communications, will receive more than $100 million in...
ESOP Plan Faces Retirement Records Lawsuit
When a former worker at medical technology company BD sought distribution of his vested and accrued retirement assets, the firm...
Plan Sponsors That Like Saving Money Get Good News on Variable-Rate Premiums
If SECURE 2.0 passes, PBGC would stop increasing the rate.
Two More Struggling Union Plans Receive PBGC Assistance
The plans combine to cover more than 10,000 participants, and their aggregate PBGC assistance adds up to more than $700...
2023 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan
Benefits |
Central States Teamsters Pension Fund Becomes the Largest SFA Rescue
The multiemployer plan will receive $35.8 billion in assistance, making it the largest bailout under the Special Financial Assistance program...
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.
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.
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.
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.
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...
PBGC Proposes Rule for Multiemployer Pension Withdrawals
The Pension Benefit Guaranty Corporation proposal clarifies assumptions for determining an employer’s withdrawal liability.
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...
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...
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...