Newsmakers
Huge Turnaround Swings PBGC Multiemployer Program into the Black
For the first time in two decades, both the multiemployer and single-employer programs have positive net financial positions.
Tag: Gordon Hartogensis
Regulation
PBGC Issues Interim Final Rule on Multiemployer Bailout Plan
The agency’s proposal sets a priority system for distributing $94 billion to severely underfunded pension plans.
Regulation
PBGC Names Nicholas Novak Permanent Inspector General
He had been the agency’s acting inspector general since April.
Pensions
PBGC Approves Merger to Aid Struggling Multiemployer Plan
The settlement is intended to help protect 50,000 Giant, Safeway employees and retirees in the Washington, D.C., area.
Research
PBGC Pension Programs Continue Divergence
The pension lifeboat’s multiemployer plan is five years from insolvency, while the single-employer plan remains robust.
Regulation
PBGC to Allow Greater Flexibility for Variable-Rate Premium Filings
Agency said move was needed because CARES Act didn’t provide special rules for PBGC premiums.
Asset Management Culture
PBGC to Pay Pension Benefits for McClatchy
Pension lifeboat takes over defined benefit plan covering 24,000 current and future retirees.
Regulation
Former PBGC Official Pleads Guilty to Bribery Conspiracy
Jeffrey Donahue could face 15 years in prison for conspiracy to bribe a public official.
Regulation
PBGC Approves Facilitated Merger of New York Pension Funds
Pension lifeboat will provide three annual payments of $8.9 million to merged plan.
Corporate Moves
Senate Confirms Gordon Hartogensis as Director of PBGC
Family trust trustee with Senate connections named 16th director of pensions lifeboat.
Corporate Moves
PBGC Director Nominee Approved by Senate Committee
Hartogensis renominated by Trump after previous attempt stalled.
Newsmakers
PBGC Director Nominee Gets Kicked Back to Trump
Clock runs out on controversial nod for brother-in-law of Mitch McConnell, Elaine Chao.