Tag: multiemployer pension plans

Representative Richard Neal has introduced a bill with bipartisan backers that would take several steps towards solving the union multiemployer pension funding crisis.

The Pension Analytics Group says the act would only temporarily mask the deficits, as opposed to reducing them and that the only solution is to reduce benefits across...

A vote on solutions was supposed to take place by today, but the co-chairmen of the Joint Select Committee on the Solvency of Multiemployer Pension Plans say they...

“The multiemployer insurance program deficit has narrowed, but it clearly won’t keep the program from running out of money,” says PBGC Director Tom Reeder.

A white paper published by a group of researchers and actuaries examines the pros and cons of creating a government-back low-interest loan program to support stressed multiemployer pensions.

Senate Democrats are highlighting the publication of the Congressional Budget Office’s scoring of proposed legislation known as the Butch Lewis Act, which seeks to “put union pension plans...

The plaintiffs intend to show that the government’s actions approving benefit cut reductions reflect a constitutional violation for several reasons.

They are seeking reductions as high as 50%.

Speaking to the Joint Select Committee on the Solvency of Multiemployer Pension Plans, one retired Teamster, whose wife is dying from pancreatic cancer, said he could easily end...

The case arose from Manhattan Ford’s withdrawal from the UAW Local 259 Pension Fund, and an arbitrator’s calculation of about $2.55 million in withdrawal liability for the employer....

In its notice of intent to request OMB approval, the agency is asking for stakeholder comments,

Senator Sherrod Brown calls it imperative "to find a bipartisan solution to the crisis threatening 1.3 million Americans."

Over the next decade, the financial condition of PBGC’s Multiemployer Insurance Program is expected to steadily worsen, leaving very little chance that the program will remain solvent beyond...

Reeder, who is in the middle of his five-year term, has been advocating for changes to help the PBGC’s programs, but the president has nominated Gordon Hartogensis—who, the...

Multiemployer pension plan insolvencies will obviously be harmful to the participants and beneficiaries of the plans in question, but the loss of the significant economic momentum provided by retirees spending...

On appeal, the candy company contended that the district court misapplied the federal statute governing multiemployer pension funds in critical status and, second, that the court erred in holding that...

Under the Bipartisan Budget Act of 2018, the bicameral committee is charged with improving the solvency of multiemployer pension plans and the Pension Benefit Guarantee Corporation.

Witnesses for the Joint Select Committee on Solvency of Multiemployer Pension Plans said demographics, failing industries and market returns led to the insolvency of multiemployer pension plans.

Following extensively detailed deliberation citing important SCOTUS rulings and other precedents, the district court ruling rejects a multiemployer plan’s usage of the so-called “Segal Blend” to set the...

The Bipartisan Budget Act of 2018 established the committee and requires that it hold public hearings, and vote on its findings and legislative recommendations no later than November...