Lawmakers Debut Pension Tracker Showing Rescued Plans
Legislation passed last year allows multiemployer plans in danger of becoming insolvent to apply for funds to cover participant benefit payments.
Legislative and Judicial Actions
PBGC Approves First Special Financial Assistance Funds
A transportation workers’ multiemployer pension plan will receive funds created by the American Rescue Plan Act of 2021 to pay retirement benefits.
Both PBGC Insurance Programs Report Positive Financial Positions
The agency says the net positive position for its multiemployer plan program is thanks to the American Rescue Plan Act (ARPA).
6th Circuit Ruling Might Increase Withdrawing Employer Risk for Multiemployer Plans
The appellate court has rejected the use of the "Segal Blend" when calculating withdrawal liability.
PBGC Publishes Q&As About Multiemployer Plan Financial Assistance Applications
The web page addresses how applications submitted before a final rule is published will be affected by any changes PBGC makes.
Legislative and Judicial Actions
PBGC, IRS Issue Guidance Related to Financial Assistance for Multiemployer Plans
The agencies have filled in the gaps for implementing provisions of the American Rescue Plan Act.
New Stimulus Package Includes Help for DB Plan Sponsors
Both single-employer plans and multiemployer plans will get help with funding.
Neal Proposes New Bill to Help Multiemployer Pensions
The bill would also extend funding relief for single-employer defined benefit plans.
PBGC Director Says Legislation Needed to Help Multiemployer Plans
The agency's Fiscal Year (FY) 2020 Annual Report shows its multiemployer insurance program will become insolvent sometime in FY 2026.
Fund Argues Court Decision Shields PE Firms From Multiemployer Plan Withdrawal Liability
The New England Teamsters and Trucking Industry Pension Fund, in its long-running legal attempt to collect withdrawal liability, has filed a petition with the U.S. Supreme Court.
PBGC Reports Dire Situation for Multiemployer Program
The single-employer program, however, has continued to improve since its emergence from a deficit.
PBGC Issues 2019 Premium Filing Instructions
The agency has included revised instructions regarding disaster relief to reflect recent changes made to PBGC’s practice.
PBGC Issues Rules to Facilitate Mergers of Multiemployer Plans
The Pension Benefit Guaranty Corporation says that mergers can protect the benefits earned by workers and retirees and extend the solvency of troubled plans.
Segal Warns Against Change to Actuarial Assumptions for Multiemployer Plans
To determine the impact of such a change, the firm performed a detailed analysis of two national multiemployer plans.
Guidance Issued Designed to Keep Members in Multiemployer Plans Longer
The Pension Benefit Guaranty Corporation (PBGC) is issuing guidance to assist multiemployer pension plans that request PBGC review of alternative plan rules for satisfying employer withdrawal liability.