Tag: Pension Benefit Guaranty Corporation

Newsmakers December 9, 2022

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 August 15, 2022

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 August 9, 2022

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.

Newsmakers May 23, 2022

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 April 28, 2022

PBGC Approves Over $300 Million in SFA Funds to 3 Pensions

The struggling multiemployer plans cover nearly 2,000 participants.

Newsmakers April 8, 2022

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 April 1, 2022

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 January 28, 2022

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 January 21, 2022

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 January 19, 2022

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 November 24, 2021

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 September 13, 2021

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 July 14, 2021

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 May 25, 2021

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 May 25, 2021

Special Report: The Risk Factor in Pension Transfers

Plans often do piecemeal deals, to reduce the chances of everything going down the tubes.