Newsmakers
Senators Urge Pelosi to Include Pension Fix in Next Stimulus Package
However, Senate Majority Leader Mitch McConnell has objected to providing funds to fix pension issues.
Tag: Pension Benefit Guaranty Corporation
Regulation
Former PBGC Official Pleads Guilty to Bribery Conspiracy
Jeffrey Donahue could face 15 years in prison for conspiracy to bribe a public official.
Research
Corporate Pension Funding Ratios Nearly Flat in 2019 Despite 17.3% Returns
Plunging discount rates offset second-largest investment return in 20 years.
Coronavirus - COVID-19
COVID-19 Layoffs Can Mean PBGC Reporting Obligations
PBGC monitors workforce reductions, so plan sponsors must be vigilant.
Risk
Sanders, Van Hollen Introduce Bill to Cut Executive Tax Break to Shore Up Pensions
Presidential hopeful says legislation would free up $15 billion to help fund struggling multiemployer pensions.
Pensions
Trump Wants $26 Billion Premium Hike for PBGC Multiemployer Plan
White House wants new variable-rate premium, saying that would help stave off insolvency for 20 years.
Regulation
PBGC Approves Facilitated Merger of New York Pension Funds
Pension lifeboat will provide three annual payments of $8.9 million to merged plan.
Risk
Over 100 Multiemployer Pension Plans May Fail Within 20 Years
Plans, like the New England Teamsters', covering 1.4 million people are underfunded by $56.5 billion.
News
Senators Unveil Plan to Bolster Multiemployer Pension System
Proposal calls for beefing up PBGC’s authority and funding.
PBGC to Provide Furniture Workers’ Plan Early Financial Assistance
Approval is the first under the Multiemployer Pension Reform Act of 2014.
Valvoline to Make $400 Million Pension Contribution
Company launches debt offering to raise funds for pension.
More Corporate Pension Plans Transferring Risk, Milliman reports
Despite fluctuations, the largest pension plans ended 2016 with their funded ratios little changed.