Regulation
PBGC Issues SFA Grants to Two Multiemployer Plans
The two plans were in the transport and food service industries.
Tag: PBGC
Regulation
Central States Reaches Agreement to Repay $127M Overpayment
The plan reached a settlement with DOJ on Monday that will clear its debt with the PBGC.
Regulation
PBGC Responds to House Republicans’ Subpoena on Central States’ Overpayment
According to the PBGC, the DOJ is working with Central States to secure the repayment.
Regulation
After Receiving Extra $127M, Central States Working on Repayment Plan
In addition to that update at a subcommittee hearing, House Republicans suggested the PBGC cut premiums for its single-employer program.
Regulation
Central States Legally Required to Repay $127M to PBGC
The multiemployer plan received an overpayment due to an incomplete death audit conducted by the PBGC.
Regulation
PBGC Paid $127M for Deceased Central States Participants, Senate Republicans Demand Repayment
The error was identified in November 2023, and the Central States pension plan has asked for legal clarity on how to return it.
Research
Strong Multiemployer Pension Funding Mostly Due to SFA Grants, Asset Performance
The two factors contributed approximately even amounts toward improved funding levels.
Regulation
Construction Pension Granted $16M by PBGC
The aid will allow the critical status plan to remain solvent through 2051.
Manager Selection
PBGC Names 6 Firms to Smaller Asset Managers Program
The companies will manage some of the agency’s fixed-income assets.
Regulation
Suggestions Sought for Retirement Plan Reporting, Disclosure
With a report on improvements due in 2025, the IRS, PBGC and EBSA are accepting feedback during a 90-day comment period.
Research
Research Report: Pension Bailouts Lead to Risky Behavior
According to the paper, the American Rescue Plan Act is a near-term plug but does not fix long-term insolvency problems.
Regulation
DOL Announces Form 5500 Changes
The adjustments include revisions to Schedules MEP and MB.
Regulation
PBGC Reports Glowing Financial Health
The pension insurer is well in the green, but conditions can be volatile.
Regulation
PBGC Updates Mortality Tables for 2024
The tables are used for calculating withdrawal liability and missing participant program transfer amounts.
Regulation
District Court Upholds PBGC Denial of Restored Pension Fund’s Grant Application
Local 550’s plan was terminated in 2016 and restored itself in 2022 before applying for a special financial assistance grant, which was denied.