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...
Tag: Pension Benefit Guaranty Corporation (PBGC)
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...
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.
DOL Reveals Changes to 2020 Form 5500
Modifications include updates in response to the SECURE Act.
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.
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...
PBGC Premiums Getting in the Way of Its Mission
Letting the agency set its own premiums and basing them more on risk would encourage the offering and maintenance of...
Trump Administration to Look at Pensions Transferred to PBGC
A memorandum issued by the president first orders three departments to review the situation for Delphi retirees, then orders a...
PBGC Reports Effect of Pension Risk Transfers on Its Premium Income
The agency could see a premium income loss of $196 million for the 2019 premium payment year, but certain trade-offs...
PBGC to Pay Pension Benefits for McClatchy Workers and Retirees
The agency estimates that McClatchy’s plan is 57% funded with approximately $1.3 billion in assets and $2.3 billion in benefit...
Delphi Retirees Lose Bid to Have Pension Takeover by PBGC Reversed
A federal appellate court found that court adjudication is not required for PBGC to terminate a plan and that retirees...
Musician Union Pension Benefit Cut Likely to Be Denied
The financial hardship faced by the American Federation of Musicians and Employers’ Pension Fund is characteristic of a broader problem—one...
Partitions May Be the Union Pension Funding Crisis Solution
There is bipartisan support building around the idea of allowing the most stressed union pensions to enact “partitions” in order...
PBGC Extends Certain Premium Payment and Filing Deadlines
The action is in response to an IRS extension of some retirement plans’ Form 5500 filing deadlines.
DOL, PBGC Announce Searchable Guidance Databases
Each database contains, or links to, all the agency’s guidance documents and provides certain information about them.