Administration | March 5th, 2024 PBGC Sues To Terminate NYC Non-profit DB plan The Sheltering Arms organization shut down in 2023, and the PBGC seeks to become its defined benefit plan’s statutory trustee.
Compliance | February 5th, 2024 PBGC Files Petition Seeking Documents California DB Plan Failed to Deliver The Pension Benefit Guaranty Corporation has escalated legal proceedings against a pension plan sponsor that allegedly stopped paying insurance premiums,...
Benefits | December 29th, 2023 EBSA’s Lisa Gomez Talks DOL 2024 Agenda The Department of Labor keeps working to implement provisions of 2022’s SECURE 2.0 Act alongside further rules for retirement and...
Compliance | December 11th, 2023 2024 ERISA Plan Compliance Calendar A schedule to help plan sponsors track important due dates for their plans.
Data and Research | October 4th, 2023 Market Conditions Continue to Fuel Pension Risk Transfers The majority of plan sponsors with the goal of mitigating pension plan risks are looking to fully divest their company’s...
Compliance | July 17th, 2023 Manufacturing, Transportation, Retail Pension Funds Receive PBGC Bailouts Special Financial Assistance funds were granted to three struggling pension plans by the PBGC on July 11.
Compliance | April 25th, 2023 DOL Offers Guidance for Multiemployer Plans Bulletin provides FAQ to help plans that received Special Financial Assistance meet notice requirements.
Benefits | February 8th, 2023 Delphi Pension Restoration Bill is Reintroduced Bipartisan measure would restore pensions to more than 20,000 retirees and provide back pay for benefits that were cut.
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.