Variable-Rate Premiums To Be Capped by SECURE 2.0
The variable premiums paid to PBGC would be un-indexed from inflation.
PBGC Provides $32.7 Million to Struggling Bricklayers Pension
The Akron, Ohio-based multiemployer plan had been providing benefits to nearly 400 participants at below half the level it was supposed to for over a year.
What Is the DOL’s Plan If the Government Shuts Down?
Like most organs of the federal government, the Labor Department maintains an explicit policy for government shutdowns as a consequence of their frequency.
Union Pension in Puerto Rico Latest to Receive PBGC Relief
With its latest relief payment, the Pension Benefit Guaranty Corporation has now distributed more than $7.5 billion to stressed union pension plans that cover over 152,000 workers, retirees and beneficiaries.
IRS Rules on Mergers Involving DB Plans That Have Received SFA
If a plan that received special financial assistance merges with an ongoing plan, the ongoing plan is not considered to be in critical status.
PBGC’s Final Union Pension Relief Rule Praised—and Questioned
PBGC Issues Final Rule for Stressed Union Pension Payments
To date, the Pension Benefit Guaranty Corporation’s multiemployer pension support program has operated on an interim rule and has protected nearly 130,000 individuals’ pension benefits across some 560 businesses.
Legislative and Judicial Actions
Understanding PRT: Fiduciary and Admin Considerations
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
Another Stressed Union Pension to Get PBGC Support
The plan was projected to run out of money at some point this year, but the special financial assistance from PBGC should prevent this outcome.
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).
Legislative and Judicial Actions
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.
DOL, IRS and PBGC Call for Comments on Form 5500 Revisions
In addition to asking for input on the SECURE Act’s requirements and the current Form 5500, the DOL has published a notice of proposed changes to its implementation of regulations under Title I of ERISA.
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.
