Regulation January 27, 2023 PBGC Bails Out 2 Construction Pension Funds Pension plans for ironworkers in Alaska and plasterers in Oregon will receive assistance.
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 February 14, 2022 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 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.
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.