Compliance | March 15th, 2024 DOL Says Central States Must Repay $127M SFA Overpayment Central States was granted $127 million that it was not entitled to because the PBGC counted over 3,000 deceased participants...
Compliance | February 29th, 2024 Central States Pension Received $127M from PBGC for Dead Participants According to the fund, an error occurred due to its lack of access to more comprehensive data on deaths.
Data and Research | February 22nd, 2024 Multiemployer Pension Funding Jumps 10 Points From 2022 to 2023 Improvement is primarily due to SFA grants and asset performance, Milliman finds.
Compliance | January 26th, 2024 Local 1822 Pension Receives $16M in PBGC Assistance The construction pension fund was 30.25% funded at the end of 2022.
Compliance | January 19th, 2024 A Call for Feedback on Retirement Reporting Requirements Federal agencies are looking for comments on how to make overall improvements to the current disclosure and reporting system.
Compliance | January 4th, 2024 PBGC Looks to Fill Advisory Council Vacancy The PBGC is accepting nominations until February 16 for a member to represent the general public.
Compliance | December 11th, 2023 2024 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plans.
Compliance | November 20th, 2023 DOL Releases 2023 Form 5500 Updates Schedules DCG and H, among others, will be modified for disclosures filed next year.
Compliance | November 20th, 2023 PBGC Nearly $50B in the Green, Report Says This could be a reason to lower premiums, though insurance conditions have been volatile before.
Compliance | November 9th, 2023 PBGC Publishes New Mortality Tables for 2024 The 4044/4050 tables are used to calculate withdrawal liability and missing participant program transfer amounts.
Compliance | November 3rd, 2023 Bakery Drivers Plan Loses Case in $132M SFA Application The plan applied for special financial assistance but was denied because the pension fund had previously been terminated.
Compliance | October 27th, 2023 Transportation Pension Granted $49.3M by PBGC The plan of 3,887 participants will remain solvent through 2051.
Compliance | October 23rd, 2023 SFA Recipients Are Not Investing in Return-Seeking Assets, Expert Says The bucket recipients can use for stock investments is not being filled due to the attractiveness of investment-grade assets.
Compliance | October 18th, 2023 PBGC Announces 2024 Premiums, Guarantee Levels Guarantee levels for single-employer plans will rise with inflation, but multiemployer plans are not indexed.
Benefits | September 28th, 2023 Social Security Administration Cannot Calculate 2024 COLA if Government Shuts Down The Bureau of Labor Statistics, which would shut down completely, produces the data necessary to update the COLA.
Administration | September 26th, 2023 PBGC Announces Address Change for Overnight Delivery of Paper Checks The change for paper premium payment checks is effective October 6.
Benefits | September 22nd, 2023 SFA Grant Rescues Printer’s Pension Fund The NYC-based plan will receive about $20 million to restore its solvency through 2051.
Compliance | September 14th, 2023 PBGC Grants $3.2M to Pennsylvania Construction Pension Fund The Plasterers and Cement Masons Local No. 94 Pension Fund will see a full restoration of cut benefits.
Compliance | September 8th, 2023 PBGC Grants $334 Million to Transportation Pension The pension would have had to cut benefits by 75% upon becoming insolvent.
Compliance | August 30th, 2023 PBGC Grants Four Struggling Pensions Close to $500 Million in Assistance One plan had been insolvent since 2009, and the grant will include back payments.