DOL Offers Guidance for Multiemployer Plans
Bulletin provides FAQ to help plans that received Special Financial Assistance meet notice requirements.
Tag: multiemployer pension plans
Benefits |
Central States Teamsters Pension Fund Becomes the Largest SFA Rescue
The multiemployer plan will receive $35.8 billion in assistance, making it the largest bailout under the Special Financial Assistance program...
Benefits |
PBGC to Provide Nearly $800 Million to Rescue 2 Pension Plans
The agency has so far approved $7.4 billion under the Special Financial Assistance Program to pension funds covering more than...
Experts Analyze the Finalized Union Pension Relief Funding Framework
A handful of important changes were made this week to the Pension Benefit Guaranty Corporation’s Special Financial Assistance program for...
Final Stressed Union Pension Assistance Rule Issued by PBGC
After months of operating on an interim basis, the Special Financial Assistance program for multiemployer pensions has been formally finalized...
Second Struggling Union Pension Wins PBGC Financial Support
Alongside confirming that the payment has now gone out to Local 138, PBGC this week announced it has approved a...
Potential Pitfalls in Union Pension Relief Program
The relief included in the latest stimulus program is a major win for stressed union pensions, but sources say there...
The Argument to Save Pensions by Saving Unions
Some sources say growing union membership to previous levels could go a long way toward solving many of the most...
Stars Have Aligned for Union Pension Funding Action
Sources hopeful for Congressional action say arguments about saving union pensions should be linked to the broader social and economic...
A Conversation With a Union Pension Funding Advocate
One outspoken advocate for the Butch Lewis Act says the time is ripe for addressing the funding challenges faced by...
Supreme Court Denies Review of PE Firm Withdrawal Liability Case
The denial lets stand an appellate court decision that two entities of Sun Capital Partners, which bought a firm that...
Supreme Court Asked to Weigh in on Multiemployer Plan Withdrawal Liability for PE Firms
A multiemployer pension fund argues that an appellate court decision shields private equity firms that take on a withdrawing employer...
Senator Portman Presses Congress on Multiemployer Plan Reform
In an opinion piece, the senator offers three principles he believes bipartisan efforts should follow to solve the union pension...
Group Says Data From Central States Pension Fund Shows Urgent Need for Legislation
Teamsters for a Democratic Union (TDU) is calling for more pressure for the Senate to pass the latest relief package...
Partitions May Be the Union Pension Funding Crisis Solution
There is bipartisan support building around the idea of allowing the most stressed union pensions to enact “partitions” in order...
Lawmakers Demand Help for Union Pensions
The former Republican Speaker of the House has teamed up with former Representative Joe Crowley to advocate for a solution...
House Committee Advances Bill to Establish Union Pension Lifeline Program
The legislation aims to establish a 30-year loan program and new financial assistance for financially troubled multiemployer pension plans.
Congress Urged to Act Soon on Union Pension Funding Crisis
Members of the Senate Finance Committee voiced frustration that lawmakers have not yet come to a solution to the multiemployer...
Fewer Multiemployer Pension Plans Receive Sufficient Contributions
The Society of Actuaries also found the average plan spends more to fund its unfunded liability than to fund current...
Bill Would Amend Voting Procedures for Multiemployer Plan Benefit Cuts
The Pension Accountability Act is designed to give workers and retirees “a seat at the table” when a looming multiemployer...