Tag: SFA

The full amount is $5.7 billion, issued through the federal SFA program.

According to the latest Pension Benefit Guaranty Corporation projection report, solvency is expected for both insurance funds.

The update provided examples of securities in aggregate bond indices that would be considered investment-grade fixed-income securities for SFA investments.

Without the assistance, the pension fund was predicted to become insolvent in 2034.

The Kansas plan received a grant of $43.1 million.

The multiemployer pension funds cover about 200,000 participants.

The grant will protect the retirement benefits of 24,288 participants.

The 2 grants total $90 million and will help cover about 2,000 workers.

The regional plan, based in New Jersey, has more than 4,000 participants in food service.

The two local plans received SFA grants to protect their solvency through 2051.

The multiemployer plan was overpaid $127 million for the accidental inclusion of about 3,500 dead participants in their grant application.

Central States is currently working with the DOJ to negotiate the repayment of a $127 million overpayment from the PBGC.

Central States was granted $127 million that it was not entitled to because the PBGC counted over 3,000 deceased participants...

According to the fund, an error occurred due to its lack of access to more comprehensive data on deaths.

Improvement is primarily due to SFA grants and asset performance, Milliman finds.

The construction pension fund was 30.25% funded at the end of 2022.

This could be a reason to lower premiums, though insurance conditions have been volatile before.

The plan applied for special financial assistance but was denied because the pension fund had previously been terminated.

The plan of 3,887 participants will remain solvent through 2051.

The bucket recipients can use for stock investments is not being filled due to the attractiveness of investment-grade assets.