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...
Tag: multiemployer pension plans
IRS Provides Additional Deadline Relief to Plan Sponsors
Deadlines have been moved for single-employer and multiemployer DB plans and 403(b) plans, among others.
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...
New House Stimulus Draft Includes Union Pension Partition Relief
The draft legislation also includes a proposed extension of amortization of required annual funding amounts for single-employer pensions.
Lawmakers Urge Multiemployer Pensions Fix Be Included in Future Stimulus Package
There were discussions to include proposals for multiemployer pensions in previously passed coronavirus relief bills, but efforts fell apart.
Multiemployer Plans Urgently Need Help to Avoid Catastrophe
Lawmakers and industry groups are pushing for immediate action as the COVID-19 pandemic wreaks havoc on already struggling multiemployer pensions.
Central States Wins Lawsuit Over Kroger Withdrawal
It was the documented process of the multiemployer plan trustees’ considerations of withdrawal proposals by Kroger that helped them win...
Union Plan Member’s Lawsuit Over Unfunded Benefit Liabilities Dismissed
The lawsuit was previously dismissed because the alleged breach of fiduciary duty involved the amendment of plan benefits, which is...
Trump’s 2021 Budget Proposes Increasing Multiemployer PBGC Premiums
The premiums would increase by $26 billion over 10 years.
Details About SECURE Act’s PEP and Lifetime Income Provisions
Open MEPs are now PEPs, and additional guidance is needed about requirements for PEPs and other provisions of the SECURE...
State of Membership Organizations/Industry Associations Retirement Plans
A look at the setup and features of these plans may offer a clue about how open MEPs sanctioned by...
Union Pension Funding Crisis Enters a New Decade
The latest appeal for union pension benefit reductions could result in more than 20,000 musicians seeing reductions ranging from 2%...
First Facilitated Merger of Multiemployer Plans Approved by PBGC
Under the Multiemployer Pension Reform Act, if one or more of the plans in the merger is in critical and...
Assumptions for Withdrawal Liability Cannot Be Changed and Applied Retroactively
“The selection of an interest rate assumption after the Measurement Date would create significant opportunity for manipulation and bias” by...
Court Finds Private Equity Funds Not Liable for Plan Withdrawal Liability
An appellate court found a partnership test set forth in a previous case had not been met between the private...
PBGC Proposes New Methods for Counting Inactive Multiemployer Plan Participants
The PBGC anticipates that providing plans with three available counting methods will allow each plan to choose the one that...
Legislation to Help Multiemployer Plans Reintroduced
The bill would funnel money to the PBGC from imposed fees on financial companies seeking a DOL exemption in order...
PBGC Announces Premium Rates for 2020
The agency notes that there are no scheduled increases (other than indexing) for years after 2019.
IRS to Hold Public Hearing About Proposed MEP Rules
Although, the DOL has issued final rules on association retirement plans, some are disappointed that the rules fell short of...
Multiemployer Plans Still Applying for Benefit Reductions
Even as lawmakers are scrambling to find a solution to the multiemployer pension crisis, the trustees of the Detroit Carpenters’...