Pensions
PBGC Updates Premium Rates, Guarantee Limits for 2027
Both measures will rise slightly more than inflation next year.
Tag: Pension Benefit Guaranty Corporation
Pensions
Trump Administration Seeks $1B to Restore Delphi Pensions
The effort, included in $87.6 billion supplemental spending request, revives a long-running fight to restore full benefits to levels they were at before GM’s 2009 bankruptcy.
Regulation
PBGC Initiates ‘Friend of the Court’ Program
The Pension Benefit Guaranty Corporation's project aims to help private parties in cases that could have broader implications for defined benefit pensions.
Pensions
Investment Gains Fuel Fifth Straight Year of Asset Growth in PBGC Pension Insurance Programs
The agency’s single-employer and multiemployer programs reported positive net positions of $62.2 billion and $2.6 billion, respectively.
Regulation
Pension Sponsors Can Submit 2 New Forms Through PBGC Filing System
The online portal now includes standard termination filings and coverage determination requests.
Pensions
2nd Circuit Vacates PBGC’s Denial of SFA Funds for NYC Pension
The Pension Benefit Guaranty Corporation had argued that the pension was not entitled to funds because it had already been terminated.
Newsmakers
PBGC Director Nominee Janet Dhillon Clears Senate HELP Committee
The Senate Committee on Health, Education, Labor and Pensions voted 12-11 to advance Dhillon's nomination to the full Senate.
Newsmakers
Dhillon Nominated to Lead PBGC
The former Equal Employment Opportunity Commission chair under President Donald Trump is now expected to lead the Pension Benefit Guaranty Corporation.
Pensions
PBGC’s SFA Program Boosts Multiemployer Funded Level to 97%
Without the $16 billion in special financial assistance from the Pension Benefit Guaranty Corporation, the plans’ funded level would have ended 2024 stagnant, per Milliman study.
Pensions
PBGC Approves $868.6M SFA Grant to Unite Here Retirement Fund
The White Plains, New York-based plan covers 91,744 participants in the hospitality industry.
Pensions
PBGC Approves SFA Funds for 3 Multiemployer Pension Funds
Laborers Local No. 265, Teamsters Local 734 and the IUOE Upstate NY Engineers Fund will receive grants totaling almost $250 million under the Special Financial Assistance Program.
Newsmakers
Anne Henderson Named Participant and Plan Sponsor Advocate at PBGC
Henderson will succeed Constance Donovan, who retired in August after 11 years at the Pension Benefit Guaranty Corporation.
Pensions
Most PBGC Premium Payment Deadlines Accelerated
Premiums for plan years beginning in 2025 will generally be due one month earlier than provided in the PBGC’s payment of premiums regulation.
Pensions
PBGC Updates Rate Tables on Expected Retirement Age, Missing Participants Mortality Assumption
Effective date for the final rule is January 1, 2025.
Pensions
PBGC Provides $29.3M to Teamsters Local 11 Pension Plan
The New Jersey-based transportation workers pension fund is in critical status, according to the Pension Benefit Guaranty Corporation.