Compliance | July 2nd, 2024 Construction Pension Fund With More Than 8,000 Participants Rescued by PBGC The Kansas plan received a grant of $43.1 million.
Compliance | June 21st, 2024 PBGC Issues More Than $5B in SFA Grants in One Week The multiemployer pension funds cover about 200,000 participants.
Compliance | June 12th, 2024 PBGC Grants More Than $500M to CWA/ITU Pension The grant will protect the retirement benefits of 24,288 participants.
Compliance | June 6th, 2024 2 Struggling Plans Receive PBGC Aid The 2 grants total $90 million and will help cover about 2,000 workers.
Compliance | May 28th, 2024 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.
Compliance | April 15th, 2024 PBGC Rescues Teamsters and UFCW Plans The two local plans received SFA grants to protect their solvency through 2051.
Compliance | April 9th, 2024 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.
Compliance | March 28th, 2024 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.
Compliance | March 15th, 2024 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...
Compliance | February 29th, 2024 Central States Pension Received $127M from PBGC for Dead Participants According to the fund, an error occurred due to its lack of access to more comprehensive data on deaths.
Data and Research | February 22nd, 2024 Multiemployer Pension Funding Jumps 10 Points From 2022 to 2023 Improvement is primarily due to SFA grants and asset performance, Milliman finds.
Compliance | January 26th, 2024 Local 1822 Pension Receives $16M in PBGC Assistance The construction pension fund was 30.25% funded at the end of 2022.
Compliance | November 20th, 2023 PBGC Nearly $50B in the Green, Report Says This could be a reason to lower premiums, though insurance conditions have been volatile before.
Compliance | November 3rd, 2023 Bakery Drivers Plan Loses Case in $132M SFA Application The plan applied for special financial assistance but was denied because the pension fund had previously been terminated.
Compliance | October 27th, 2023 Transportation Pension Granted $49.3M by PBGC The plan of 3,887 participants will remain solvent through 2051.
Compliance | October 23rd, 2023 SFA Recipients Are Not Investing in Return-Seeking Assets, Expert Says The bucket recipients can use for stock investments is not being filled due to the attractiveness of investment-grade assets.
Benefits | September 22nd, 2023 SFA Grant Rescues Printer’s Pension Fund The NYC-based plan will receive about $20 million to restore its solvency through 2051.
Compliance | September 14th, 2023 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.
Compliance | September 8th, 2023 PBGC Grants $334 Million to Transportation Pension The pension would have had to cut benefits by 75% upon becoming insolvent.
Compliance | August 18th, 2023 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.