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.
The trend is mounting for corporate sponsors to shunt liabilities to insurers. But some don’t want to do that, and others can’t.
Plans often do piecemeal deals, to reduce the chances of everything going down the tubes.
Multiemployer pension reform has been ruled eligible to be included in the $1.9 trillion COVID-19 relief package.
The provision would beef up the PBGC and provide a boost for multiemployer and single-employer plans. But it would also freeze COLAs.