Regulation
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.
Tag: PBGC
Regulation
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.
Regulation
PBGC Assists Automotive, Trucker, Retail Pension Plans
The total assistance to three multiemployer plans amounted to more than $1.4 billion.
Regulation
PBGC Updates Terminated Single-Employer Plan Benefits
The PBGC updated ambiguous regulations and practices, such as when lump sum payments are acceptable under their trusteeship.
Regulation
Five Multiemployer Pension Funds Bailed Out By PBGC This Week, Totaling More Than $2 Billion
The PACE Industry and National Integrated Group Pension plans make up the bulk of that amount.
Regulation
PBGC Adjusts Quarterly, Monthly Interest Rates
Interest rates for late payment liability, ERISA 4044 annuity discount rates and variable rate premiums have been adjusted, the PBGC announced.
Regulation
PBGC Provides Supplemental Assistance to Teamsters Local 966
The plan previously received more than $50 million in December 2022.
Regulation
PBGC Bails Out Service, Manufacturing, Transportation Pension Funds
The three plans will receive more than $600 million for back payments and to protect their solvency through 2051.
Regulation
PBGC Bails Out Bakery Driver, Newspaper Plans
The two pension plans will receive more than $300 million in SFA relief.
Regulation
Cement Workers’, Teamsters’ Pensions Receive Additional PBGC Funding
The PBGC paid out $438 million in additional funding to the NYS Teamsters Conference Plan and smaller amounts to three other plans.
Pensions
Multiemployer Plan Funded Levels Fall Despite American Rescue Plan Aid
Investment losses dragged aggregate funded levels 12 percentage points lower in 2022.
Pension Risk Transfers: What to Watch Out For
Will the PRT be financially solid? Will the sponsor be left worse off? How will transferred beneficiaries fare?
Regulation
PBGC Supplements Aid to Newspaper, Painter, Graphic Communication Pension Plans
The three pension plans had additional SFA packages approved Friday.
Regulation
PBGC Bails Out 2 Construction Pension Funds
Pension plans for ironworkers in Alaska and plasterers in Oregon will receive assistance.
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.