Regulation
DOL Offers Guidance for Multiemployer Plans
Bulletin provides FAQ to help plans that received Special Financial Assistance meet notice requirements.
Tag: Special Financial Assistance Program
Pensions
Multiemployer Plan Funded Levels Fall Despite American Rescue Plan Aid
Investment losses dragged aggregate funded levels 12 percentage points lower in 2022.
What Is the Special Financial Assistance Program?
And what does the federal program for struggling multiemployer plans mean for the future of defined benefit plans?
Regulation
Ohio Teamsters Local Union Receives PBGC Assistance.
The PBGC provided about $85 million to the union pension fund that was bordering on insolvency.
Asset Allocation
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
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
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.
News
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
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.