CBO Says Rescue Plan for Multiemployer Pensions Won’t Help
For one thing, the Congressional Budget Office projects that about one-quarter of the affected multiemployer plans would become insolvent in...
Tag: multiemployer pension plans
LIMRA Finds Growing Interest in PRTs and MEPs
Even though pension risk transfer is better understood by plan sponsors, LIMRA hopes pending legislation that would open multiple employer...
Orphan Participants Affecting Multiemployer Plan Funding
Plans with a higher ratio of inactive to active participants also report being in critical or critical and declining zone...
Court Decides Lawsuit Over Multiemployer Plan Withdrawal Liability Is Time-Barred
According to an appellate court, a cause of action against a plan sponsors for defaulting on its multiemployer plan withdrawal...
IRS Makes Language Changes to ‘One-Bad-Apple’ Rule Proposal
The IRS says that, as published, its Notice of Proposed Rulemaking (NPRM) contains errors which may prove to be misleading...
Caesars Owes No Withdrawal Liability for One Closed Pension in Controlled Group
An appellate court affirmed a District Court’s judgement that because Caesars Entertainment continues to contribute to a multiemployer plan for...
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...
PBGC Multiemployer Program Continues Move Toward Insolvency
PBGC Director Gordon Hartogensis says if Congress fails to act soon then after year 2025, any future revenue to the...
DOL Offers Relief to MEPs That Did Not File Correct Form 5500s
The Department of Labor (DOL) found more than 100 multiple employer plans (MEPs) in violation of a requirement to include...
DOL Releases Final Rule on ‘Association Retirement Plans’
The rule will permit employers to connect with associations of employers in a city, county, state, or a multi-state metropolitan...
Even With No CBA, Withdrawing Employer May Have to Pay Multiemployer Plan
A multiemployer plan was found to have brought a viable claim for a withdrawal contribution required in its trust documents.
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.
IRS Proposes Change to ‘One-Bad-Apple’ Rule for MEPs
Proposed regulations would provide an exception, if certain requirements are met, to a multiple employer plan (MEP) being disqualified due...
Multiemployer Pensions Support $89 Billion in U.S. Economic Output
A report from the National Institute on Retirement Security shows spending from retirees that receive income from 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...
Valuation and Reporting Requirements for Insolvent Multiemployer Plans Amended
A final rule from the Pension Benefit Guaranty Corporation (PBGC) allows smaller plans terminated by mass withdrawal to perform actuarial...
Multiemployer 401(k) Plan Settles Excessive Fee Suit
The union plan’s board of trustees has agreed to pay $8.75 million and issue a request for proposals for recordkeeping...
Retirement Plan Options for Small Businesses Have Pros and Cons
Small U.S. employers trust the financial services sector for its expertise more than government entities when it comes to administering...
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...