Newsmakers
PBGC Bails Out Struggling NY Pension With $112.6 Million in Aid
The Local 138 Pension Plan becomes the first multiemployer plan to receive funds under the American Rescue Plan Act.
Tag: Multiemployer Pension
Pensions
Multiemployer Pensions Reach Highest Funding Levels in 13 Years
Robust asset gains in 2020 raised funded ratios to pre-global financial crisis levels.
Pensions
Democrats Introduce Bill to Protect Pensions, Expand PGBC’s Power
Proposed legislation would create PBGC partition program and end ability to seek benefits cuts under MPRA.
Pensions
Outlook Improves for Multiemployer Reform in 2021, 2022
Democratic control of Congress could help break the deadlock over passing legislation to protect pensions and the PBGC.
Pensions
Kroger to Pay Nearly $1 Billion to Ditch Multiemployer Plan
Supermarket operator will fork over $962 million to withdraw from UFCW International Union–Industry Pension Fund.
Newsmakers
Senators Urge Pelosi to Include Pension Fix in Next Stimulus Package
However, Senate Majority Leader Mitch McConnell has objected to providing funds to fix pension issues.
Risk
Sanders, Van Hollen Introduce Bill to Cut Executive Tax Break to Shore Up Pensions
Presidential hopeful says legislation would free up $15 billion to help fund struggling multiemployer pensions.
Federal Lawmakers Debate on Union Pension Crisis Fix
Some call for loans, others call for widespread reform for insolvent multiemployer pension catastrophe.
Can Annuities Save Multiemployer Pensions?
Northwestern professor says annuities could have helped avoid the crisis.
Insolvency Looms Larger for PBGC Multiemployer Program
Projections now show a 90% chance the program will run out of money in seven years.
Over 100 US Multiemployer Pension Plans Face Insolvency
Despite rising funded status trend, many plans will run out of assets within 10 years.
Failed Plan Members May Receive Only Fraction of PBGC Minimum
PBGC says it would only be able to pay less than one-eighth the minimum benefit.
PBGC Multiemployer Program Deficit Grows to $65.1 Billion
Single-employer program improves as deficit nearly halved to $10.9 billion.
Multi-Employer Pensions Divided Between Haves, Have Nots
Reports take half-empty, half-full view of pension funding.