New York Service Workers’ Pension Fund Receives $36.3M SFA Grant
The fund was projected to become insolvent in 2024, and PBGC funds will enable it to stay solvent through 2051.
Regulation
PBGC Proposes Updating Valuation Assumptions
The proposal would modify mortality, interest and expense assumptions.
PBGC Grants $182.6M to Southwest Ohio Carpenters’ Pension
The plan had already cut benefits by 18% as of 2019.
Florida Fund Administrator Settles SEC Charges Over Missing ‘Red Flags’
Theorem Fund Services allegedly misappropriated and misused investors’ funds.
SEC Cybersecurity Rules Require Major Compliance Efforts
Experts say regulations adopted last month will not be easy to meet without added resources and focus.
UK Tribunal Upholds TPR’s Pension Contribution Notice Powers
The Meghraj Group pension’s sponsor was ordered to pony up nearly 2 million pounds following a dividend payment probe.
PBGC Issues One-Time Waiver for 4010 Filers
Pensions with a value date between October 1, 2022, and March 1, 2023, may qualify.
Insurance Executives Say ERISA PRT Rule Is Enough
Only minor changes to the DOL's PRT regulation, IB 95-1, would be needed to account for changing market conditions, industry leaders say.
PBGC Provides More Than $1B to 3 More Ailing Multiemployer Plans
The plans were projected to become insolvent within 10 years.
PBGC’s Insurance Programs Are in Strong Financial Shape, Report Says
Both single and multiemployer programs are in the green for years into the future.
SEC Charges Hex Crypto Token Owner with Fraud and Offering Unregistered Securities
Richard Heart allegedly offered more than $1 billion in unregistered digital securities and stole $12 million in investor funds, according to the SEC
SEC Proposes New Conflict of Interest Regime for Predictive Technology
A wide range of technology would be swept up by the proposal, which forbids conflict disclosure as an alternative to elimination related to the covered technologies.
House Republicans, Senate Democrats Agree on PBGC Administrative Funding
If the bills are reconciled, the PBGC would receive $513 million in funding, with adjustments made for additional terminated plans.
SEC Finalizes Cybersecurity Disclosure Rules
Issuers will have to disclose ‘material cybersecurity incidents’ within 4 business days.
PBGC Clarifies ‘Return Seeking’ and ‘Investment Grade’ for SFA Purposes
Reacting to some confusion about the terms’ precise meanings, the PBGC clarified and provided examples of both.