Compliance | July 22nd, 2024 Single and Multiemployer PBGC Funds Likely to Remain Solvent Through Projection Period According to the latest Pension Benefit Guaranty Corporation projection report, solvency is expected for both insurance funds.
Compliance | July 17th, 2024 PBGC Clarifies Investment-Grade Bond Criteria for SFA Funds in FAQ The update provided examples of securities in aggregate bond indices that would be considered investment-grade fixed-income securities for SFA investments.
Compliance | July 17th, 2024 Musicians’ Pension Receives $1.5B Grant From PBGC Without the assistance, the pension fund was predicted to become insolvent in 2034.
Administration | July 11th, 2024 White House Announces Nominee for PBGC Director Deva Kyle, an experienced employee benefits expert, was nominated to become the next director of the Pension Benefit Guaranty Corporation.
Compliance | July 2nd, 2024 Construction Pension Fund With More Than 8,000 Participants Rescued by PBGC The Kansas plan received a grant of $43.1 million.
Opinions | June 25th, 2024 Why PBGC’s Flat-Rate Premiums Need to Drop Lowering premiums might spur some organizations to consider offering a defined benefit plan, which could be an additional form of...
Compliance | June 21st, 2024 PBGC Issues More Than $5B in SFA Grants in One Week The multiemployer pension funds cover about 200,000 participants.
Compliance | June 12th, 2024 PBGC Grants More Than $500M to CWA/ITU Pension The grant will protect the retirement benefits of 24,288 participants.
Compliance | June 6th, 2024 2 Struggling Plans Receive PBGC Aid The 2 grants total $90 million and will help cover about 2,000 workers.
Administration | May 30th, 2024 Industry Groups Recommend Fewer and Staggered Retirement Plan Disclosures Retirement plan and benefit disclosures should only be given to participants if they contain actionable information, industry groups say.
Compliance | May 28th, 2024 PBGC Issues $54.6M SFA Package to UFCW Plan The regional plan, based in New Jersey, has more than 4,000 participants in food service.
Compliance | May 10th, 2024 Ann Orr Named New PBGC Acting Director The Biden administration has not yet nominated a full director.
Compliance | May 9th, 2024 NIRS Offers Congress 6 Recommendations for Expanding Access to Private-Sector Pensions The recommendations include: lower PBGC fees costs and allowing DC to DB transfers.
Compliance | April 15th, 2024 PBGC Rescues Teamsters and UFCW Plans The two local plans received SFA grants to protect their solvency through 2051.
Compliance | April 9th, 2024 Central States Has Repaid SFA Overpayment The multiemployer plan was overpaid $127 million for the accidental inclusion of about 3,500 dead participants in their grant application.
Administration | April 3rd, 2024 Comment Period Extended for SECURE 2.0 Reporting, Disclosure Rules Federal agencies are seeking advice on how to improve the reporting and disclosure system for retirement plans governed by ERISA.
Compliance | March 28th, 2024 PBGC Says Central States Will Reimburse SFA Overpayment Central States is currently working with the DOJ to negotiate the repayment of a $127 million overpayment from the PBGC.
Data and Research | March 22nd, 2024 Aon Projects PRT Market Will Again Climb Above $40B 2024 has already seen significant activity, with Shell and Verizon both conducting large pension risk transfers in the last few...
Compliance | March 21st, 2024 Central States Pension Plan Negotiating $127M Repayment With DOJ With the PBGC director at a subcommittee hearing, House Republicans indicated the PBGC should lower premiums for its single-employer insurance...
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...