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.
Tag: PBGC
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.
Regulation
Ohio Teamsters Local Union Receives PBGC Assistance.
The PBGC provided about $85 million to the union pension fund that was bordering on insolvency.
Pensions
Here’s How Much Rising Rates Help Pension Plan Liabilities
Defined benefit plans see their obligations reduced, but there are also impacts on lump sum distributions, PBGC tabs and more.
Newsmakers
PBGC Provides Almost a Billion Dollars to New York Teamsters Pension
The PBGC approved the grant money out of funding from the American Rescue Plan, for a struggling pension with over 30,000 participants.