News
Pension Plan That Had Been Insolvent Since 2009 Rescued by PBGC
The plan was among four granted special financial assistance funds by the PBGC this week.
Tag: PBGC
Regulation
New York Service Workers’ Pension Fund Receives $36.3M SFA Grant
The fund was projected to become insolvent in 2024, and PBGC funds will enable it to stay solvent through 2051.
Regulation
PBGC Proposes Updating Valuation Assumptions
The proposal would modify mortality, interest and expense assumptions.
Regulation
PBGC Grants $182.6M to Southwest Ohio Carpenters’ Pension
The plan had already cut benefits by 18% as of 2019.
Regulation
PBGC Issues One-Time Waiver for 4010 Filers
Pensions with a value date between October 1, 2022, and March 1, 2023, may qualify.
Regulation
Insurance Executives Say ERISA PRT Rule Is Enough
Only minor changes to the DOL's PRT regulation, IB 95-1, would be needed to account for changing market conditions, industry leaders say.
Regulation
PBGC Provides More Than $1B to 3 More Ailing Multiemployer Plans
The plans were projected to become insolvent within 10 years.
Regulation
PBGC’s Insurance Programs Are in Strong Financial Shape, Report Says
Both single and multiemployer programs are in the green for years into the future.
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.
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.