Compliance | January 5th, 2023 ESOP Plan Faces Retirement Records Lawsuit When a former worker at medical technology company BD sought distribution of his vested and accrued retirement assets, the firm...
Compliance | December 15th, 2022 Two More Struggling Union Plans Receive PBGC Assistance The plans combine to cover more than 10,000 participants, and their aggregate PBGC assistance adds up to more than $700...
Compliance | December 13th, 2022 2023 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plan
Benefits | December 8th, 2022 Central States Teamsters Pension Fund Becomes the Largest SFA Rescue The multiemployer plan will receive $35.8 billion in assistance, making it the largest bailout under the Special Financial Assistance program...
Compliance | October 14th, 2022 PBGC Proposes Rule for Multiemployer Pension Withdrawals The Pension Benefit Guaranty Corporation proposal clarifies assumptions for determining an employer’s withdrawal liability.
Compliance | September 27th, 2022 What Would a Government Shutdown Mean for the DOL? The Department of Labor would be able to sustain services deemed essential, as well as those that receive forms of...
Compliance | September 26th, 2022 Plan Sponsors Consider PBGC Premium Strategies As plan sponsors near the deadline for changing how they calculate PBGC premiums, some are considering a change in light...
Data and Research | August 12th, 2022 Funded Levels for Multiemployer Plans Tumble in First Half of 2022 The total funding shortfall for more than 1,200 plans balloons by $85 billion in six months.
Benefits | August 9th, 2022 PBGC to Provide Nearly $800 Million to Rescue 2 Pension Plans The agency has so far approved $7.4 billion under the Special Financial Assistance Program to pension funds covering more than...
Compliance | July 21st, 2022 IRS Addresses Mergers Involving DB Plans That Have Received SFA The ongoing plan must still separate special financial assistance funds and invest them according to final regulations.
Benefits | May 24th, 2022 PBGC Approves Assistance for Five More Multiemployer Plans in May Special Financial Assistance program to date has approved more than $6.2 billion to cover nearly 120,000 participants.
Benefits | April 28th, 2022 PBGC Greenlights Over $300 Million For 3 Multiemployer Pensions The Special Financial Assistance program funding will cover benefit payments for almost 2,000 participants.
Administration | April 8th, 2022 DB Plan Sponsors Might Want to Press Pause on Pursuing PRT Investment managers point to what might be better strategies for managing defined benefit plan investment risks and PBGC premium costs.
Compliance | January 19th, 2022 Supreme Court Declines Review of Delphi Pension Case Former non-union employees of the auto parts maker sought to overturn the Pension Benefit Guaranty Corporation’s decision to terminate their...
Compliance | December 22nd, 2021 PBGC Greenlights Funds for First Special Assistance Application The first approved application is from a multiemployer pension plan that was projected to become insolvent by 2022.
Compliance | December 15th, 2021 2022 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plan
Administration | November 29th, 2021 Reasons Not to Use Pension Funding Relief Using funding relief to lower contributions to DB plans can increase PBGC premiums and get those plan sponsors that are...
Compliance | September 22nd, 2021 PBGC Addresses Multiemployer Plan SFA Applications Received Before Final Rule The agency is accepting applications before a final rule is published and says any changes will not reduce the amount...
Administration | September 3rd, 2021 Will Multiemployer Plan Financial Assistance Work? Stakeholders take issue with the permissible investments under the PBGC’s interim final rule, among other things, and even if special...
Compliance | July 9th, 2021 Regulators Issue Guidance on Multiemployer Plan Assistance PBGC has issued an interim final rule addressing assistance requirements, and the IRS has released a notice for plan sponsors...