Regulation
Ohio Teamsters Local Union Receives PBGC Assistance.
The PBGC provided about $85 million to the union pension fund that was bordering on insolvency.
Tag: PBGC
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.
Newsmakers
Biden Appoints New Members to PBGC Advisory Committee
The four new appointees will join three other existing members representing employers, participants and the public.
Pensions
PBGC Provides Financial Assistance to Struggling Metal Workers Pension
The Sheet Metal Workers Local Pension Plan from Massillon, Ohio, will receive nearly $29 million in assistance after over a year of partial payouts to beneficiaries.
Pensions
PBGC Provides Financial Assistance to Struggling Metal Workers Pension
The Sheet Metal Workers Local Pension Plan from Massillon, Ohio, will receive nearly $29 million in assistance after over a year of partial payouts to beneficiaries.
Asset Allocation
Multiemployer Plan Funding Levels Down Sharply in First Half of 2022
The total funding shortfall for more than 1,200 plans balloons by $85 billion in six months.
Asset Allocation
Teamsters’ Plan to Claim Most of Latest PBGC Aid
More than $800 million from Special Financial Assistance Program will help two pension funds covering more than 22,000 participants.
Regulation
PBGC Finalizes Rescue of Ailing Multiemployer Pension Plans
The aid, which has been operating on an interim basis, has already protected nearly 130,000 individuals’ pension benefits across some 560 businesses.
Regulation
PBGC Soon to Release New Final Rule on Special Financial Assistance for Multiemployer Plans
Public commenters expressed concerns over investment restrictions, discount rate calculations.
Newsmakers
PBGC Approves Bailouts for Five More Multiemployer Plans in May
The agency has now approved more than $6.2 billion in special financial assistance funds to cover nearly 120,000 participants.
Newsmakers
PBGC Approves Over $300 Million in SFA Funds to 3 Pensions
The struggling multiemployer plans cover nearly 2,000 participants.
Newsmakers
PBGC to Provide Nearly $700 Million to 3 Insolvent Multiemployer Plans
Plans covering over 5,550 participants have been approved to receive bailout funds under the American Rescue Plan.
News
New York City-Based Multiemployer Plans Approved for PBGC Bailout
The Local 584 Plan and the Milk Industry Office Employees Pension will receive funds under the Special Financial Assistance Program.
Newsmakers
Teamsters Pension Applies for Bailout After $58 Million Legal Appeal Dismissed
A circuit court has denied the New York multiemployer pension’s attempt to recover withdrawal liabilities from the bankrupt firm’s new owner.