Benefits |
Carpenters Pension Fund Gets $635M PBGC Grant
Aid to Michigan-based fund will benefit it more than 22,000 participants.
Tag: Pension Benefit Guaranty Corporation (PBGC)
Deadline Approaches for PBGC Premiums
The premium due date for many plan sponsors, as well as the deadline for seeking a refund on 2023 premium...
Benefits |
Ohio Multiemployer Pension Fund Gets $31.6M PBGC Grant
The Newspaper Drivers Local 473 Plan will receive funding under the federal Special Financial Assistance Program.
New England Teamsters Gets Second Largest PBGC Grant Yet
The full amount is $5.7 billion, issued through the federal SFA program.
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.
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.
Musicians’ Pension Receives $1.5B Grant From PBGC
Without the assistance, the pension fund was predicted to become insolvent in 2034.
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.
Construction Pension Fund With More Than 8,000 Participants Rescued by PBGC
The Kansas plan received a grant of $43.1 million.
PBGC Closer to Receiving Pension Plan Restitution Payments
Following a federal court order in Pennsylvania, the Pension Benefit Guaranty Corporation is nearer to forcing a bankrupt construction company...
Opinions |
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...
PBGC Issues More Than $5B in SFA Grants in One Week
The multiemployer pension funds cover about 200,000 participants.
$8M Repayment of Excess SFA Money Coming From Illinois Multiemployer Pension
The refund is the second such settlement related to overpayment of Special Financial Assistance due to the inclusion of deceased...
PBGC Grants More Than $500M to CWA/ITU Pension
The grant will protect the retirement benefits of 24,288 participants.
2 Struggling Plans Receive PBGC Aid
The 2 grants total $90 million and will help cover about 2,000 workers.
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.
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.
PBGC Sues to Recover Losses Caused by Trustee’s Asset Transfer
The Pension Benefit Guaranty Corporation claims a shuttered California corporation’s CEO transferred plan assets to a business checking account.
Ann Orr Named New PBGC Acting Director
The Biden administration has not yet nominated a full director.
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.