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.
Tag: PBGC
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.
Regulation
What Does SECURE 2.0 Mean for Pension Plans? Dead Trees and Migraines.
Though SECURE 2.0 primarily focuses on defined contribution plans, it also contains changes relevant for traditional pension plans.
Regulation
SECURE 2.0 Caps Variable-Rate Premiums
The variable premiums paid to PBGC would be un-indexed from inflation.
Newsmakers
Central States Multiemployer Pension Plan Receives $35.8 billion in PBGC Assistance
The Pension Benefit Guaranty Corporation has approved the Special Financial Assistance application from the Central States, Southeast & Southwest Areas Pension Plan. The Central States Plan is a multiemployer...
Asset Allocation
PBGC Grants SFA Money to Third Teamsters Pension in Two Weeks
New Jersey union pension fund, expected to become insolvent in 2023, will receive $54.1 million in assistance.