
Democrats Have Won the Power to Fix Union Pensions
Union Pension Funding Advocate Urges Immediate Action
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.
2020 Brought Little Progress on Union Pension Funding Crisis
With so many other challenges and debates dominating the halls of the Capitol, it is hard to imagine the union pension funding crisis will be addressed during this Congress.
DOL Releases Updated Versions of Form 5500
The agency has also highlighted important modifications to the form.
PBGC Takes Over J.C. Penney Pension
A purchase agreement allowing the company to emerge from Chapter 11 bankruptcy does not include the pension plan debts or assets, despite its comparatively strong funding position.
Musician Union Pension Clashes with U.S. Treasury
Congress is divided on how to address the union pension funding crisis, which is exemplified by the plight faced by the American Federation of Musicians and Employers’ Pension Fund.
Politics Aside, Union Pension Funding Crisis Remains Solvable
On its face, the multiemployer pension relief included in House Democrats’ fourth relief proposal resembles a plan floated last year by two influential Republican senators—though the devil is always in the political details.
DB Plans Get Relief for Certain Premium Payments and Filings
Due dates for filings or actions that would otherwise have been due on or after April 1, and before July 15, have been extended to July 15.
PBGC and DOL Make Guidance Document Databases Available
An executive order requires each agency to establish on its website a single, searchable indexed database that contains, or links to, all the agency’s guidance documents and provides certain information about them.
1st Circuit Reverses Union Pension Liability Decision
As the appellate decision explains, ownership percentages are less important than organizations’ operating structures when determining withdrawal liability from a multiemployer union pension.
Republicans Propose Their Own Union Pension Funding Crisis Solution
Unlike the approach favored by Democrats in the House of Representatives, which would establish a government-backed loan programs to assist troubled union pension, this approach would permit the partition of such plans and would require accounting reforms.
Information Copies of the 2019 Form 5500 Published
The associated instructions have also been updated to reflect, among other changes, an increase to $2,194 per day in the maximum civil penalty amount assessable under ERISA Section 502(c)(2).
Plan Sponsors Using PBGC Lump-Sum Assumptions May See Changes
The agency has issued proposed rules on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans, as well as the assumptions PBGC uses to determine de minimis lump sum benefits in PBGC-trusteed terminated single-employer defined benefit (DB) pension plans.

Former House Speaker Boehner and Rep. Crowley Talk Union Pension Crisis
PBGC Reports Dire Situation for Multiemployer Program
The single-employer program, however, has continued to improve since its emergence from a deficit.
PBGC Asking for Comments on Proposed Rulemaking
The proposal includes corrections, clarifications, and improvements to its regulations on Reportable Events, Premium Rates and others.
DB Plan Sponsors Must Include More Information in Reportable Events Filings
Controlled group information, company financial statements, and the defined benefit (DB) plan’s actuarial valuation report; some of all of this information will be added to five reportable events.
PBGC Submits Updated Proposal for Determining Whether Plans Covered by ERISA
The agency explains that, in limited situations, employers will be able to use the soon-to-be issued coverage forms to request an opinion letter about whether a plan being developed is likely to receive PBGC coverage.
Senate Confirms Gordon Hartogensis as Director of PBGC
Family trust trustee with Senate connections named 16th director of pensions lifeboat.