Department of Labor Announces Final Form 5500 Changes
The changes to Form 5500 for defined contribution and defined benefit plans are modest.
Tag: multiemployer pension plans
Benefits |
PBGC Approves Assistance for Five More Multiemployer Plans in May
Special Financial Assistance program to date has approved more than $6.2 billion to cover nearly 120,000 participants.
Benefits |
PBGC Greenlights Over $300 Million For 3 Multiemployer Pensions
The Special Financial Assistance program funding will cover benefit payments for almost 2,000 participants.
Court Dismisses One Lawsuit Against ADP Multiple Employer Plan
A court found a participating employer was not a fiduciary with respect to alleged actions in the lawsuit, and therefore...
IRS Proposes Regulations Updating MEP ‘One Bad Apple’ Rule
In certain cases, the portion of a multiple employer plan attributable to a participating employer’s failure to meet plan qualification...
Lawmakers Unveil Multiemployer Pension Rescue Tracker
The website keeps tabs of multiemployer plans that have received the Pension Benefit Guaranty Corporation’s special financial assistance.
Multiemployer Plans Overall in Good Shape
The majority of plans are at least 80% funded, and even those in critical and declining status are expected to...
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...
Finalized Form 5500 Changes Add Little to Plan Sponsors’ Responsibilities
While plan sponsors will need to ensure the form contains accurate data, many of the proposed changes to the 2021...
PBGC Greenlights Funds for First Special Assistance Application
The first approved application is from a multiemployer pension plan that was projected to become insolvent by 2022.
American Rescue Plan Act Turns Things Around for PBGC Multiemployer Plan Program
For the first time in 20 years, both of PBGC’s insurance programs are reporting positive net financial positions.
Appellate Court Rejects Use of Segal Blend in Calculating Withdrawal Liability
Because appellate court decisions carry weight with lower courts in a circuit, the ruling could increase the risk for multiemployer...
PBGC Addresses Multiemployer Plan SFA Applications Received Before Final Rule
The agency is accepting applications before a final rule is published and says any changes will not reduce the amount...
Will Multiemployer Plan Financial Assistance Work?
Stakeholders take issue with the permissible investments under the PBGC’s interim final rule, among other things, and even if special...
Groups File Recommendations to PBGC on Multiemployer Plan Assistance
The most common concern is that permissible investments for the funds will not earn the rate used for calculation of...
How Multiemployer Plan Sponsors Can Manage Relief Payments
With PBGC dictating interest rate assumptions and permissible investments, there are steps plan sponsors should take to make the relief...
Regulators Issue Guidance on Multiemployer Plan Assistance
PBGC has issued an interim final rule addressing assistance requirements, and the IRS has released a notice for plan sponsors...
COVID-19 Had Little Effect on Multiemployer Plan Funding
The percentage of plans in the healthy ‘green’ zone increased slightly; however, the pandemic had an effect on certain industries’...
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...
PBGC Simplifies Withdrawal Liability Calculation for Multiemployer Pension Plans
The agency expects the changes will reduce actuarial fees paid by multiemployer plans, but it admits the simplified methods might...