PBGC Approves 2 More Supplemental Assistance Applications
The Teamsters Local 641 and Graphic Communications International Union pensions will both receive supplemental assistance from the PBGC.
The Teamsters Local 641 and Graphic Communications International Union pensions will both receive supplemental assistance from the PBGC.
The total funding shortfall for more than 1,200 plans balloons by $85 billion in six months.
More than $800 million from Special Financial Assistance Program will help two pension funds covering more than 22,000 participants.
The aid, which has been operating on an interim basis, has already protected nearly 130,000 individuals’ pension benefits across some 560 businesses.