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.
Tag: PBGC
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.
Newsmakers
PBGC Approves $100.5 Million Bailout of New Jersey Pension Plan
Teamsters Local 408 is the 5th plan to be approved under the American Rescue Plan Act’s Special Financial Assistance program.
Newsmakers
PBGC Bails Out Struggling NY Pension With $112.6 Million in Aid
The Local 138 Pension Plan becomes the first multiemployer plan to receive funds under the American Rescue Plan Act.
Regulation
Supreme Court Declines to Hear Delphi Pension Termination Case
The lack of action by the high court ends more than 12 years of litigation after the General Motors unit’s pension plan was terminated.
Newsmakers
Huge Turnaround Swings PBGC Multiemployer Program into the Black
For the first time in two decades, both the multiemployer and single-employer programs have positive net financial positions.
Opinion
Op-Ed: Don’t Leave Money on the Table When Evaluating Pension Risk Strategies
The passage of the American Rescue Plan Act in March has changed the game for CIOs considering an annuity buyout.
Regulation
PBGC Issues Interim Final Rule on Multiemployer Bailout Plan
The agency’s proposal sets a priority system for distributing $94 billion to severely underfunded pension plans.
Pensions
Special Report: Will Pension Risk Transfers Someday Control All DB Plans?
The trend is mounting for corporate sponsors to shunt liabilities to insurers. But some don’t want to do that, and others can’t.
Pensions
Special Report: The Risk Factor in Pension Transfers
Plans often do piecemeal deals, to reduce the chances of everything going down the tubes.
Pensions
Single-Employer Plans Can Lower Target Returns to 4% and 5%
Under the pension relief bill, allocators can aggressively de-risk corporate funds, says Insight Investment.
Pensions
COLA Freeze Removed from Pension Bailout Plan
American Rescue Plan Act amendment from Chuck Schumer removes cost-of-living adjustment freeze.
Pensions
Senate Parliamentarian Ruling Keeps Pension Bailout Alive
Multiemployer pension reform has been ruled eligible to be included in the $1.9 trillion COVID-19 relief package.
Pensions
Pension Relief Plan in COVID-19 Stimulus Bill That Passes House
The legislation goes to the Senate, which could vote on the proposal later this week.