Corporate funds led gains for the second quarter of 2017, according to the Wilshire TUCS.
The agency says it uses information submitted by plan sponsors under the regulation to determine whether mergers and transfers conform to the requirements of ERISA Section 4231.
Doom and gloom headlines are not the whole story about multiemployer plans.
WestRock RKT Company claims that the amendment violates ERISA because “critical status [multiemployer plans] with valid rehabilitation plans may not unilaterally impose on employers contribution requirements necessary to avoid an [accumulated funding deficiency].”
The new legislation establishes a legacy fund within the Pension Benefit Guaranty Corporation.
“This quarter’s return boosted the one-year return to 10.49% for the year ending March 31, 2017,” says Robert J. Waid, managing director, Wilshire Associates.
The numbers are virtually unchanged compared to data for the previous 12-month period, Segal Consulting finds.
The agency wants to hear about issues involving a two-pool withdrawal liability method.
While some multiemployer plans are in poor shape financially, many more are doing just fine, according to an analysis from Segal Consulting.
The case stemmed from the activities of workers who reported on the trustee’s interference with collections and contributions from unionized employers.
Rehabilitation plan surcharges and contribution rate increases can be excluded from withdrawal liability installment payment calculations.
The proposed rule would provide guidance about the process for requesting a facilitated merger, including a request for financial assistance.
The single-employer program is underfunded by more than $19 billion, and the multiemployer program is underfunded by more than $42 billion.
The federal appellate court’s opinion turned on when to assess common control among employers.
PBGC says its legal authority for this action comes from legislation about inflation adjustment of civil penalties.
The final rule includes limitations on suspensions, requirements for benefit improvements, notice requirements and details of the approval or rejection process.
The funded status declined from 79% at the end of June 2015 to 75% at the end of December.
A federal district court found private equity funds that owned a bankrupt company are responsible for that company’s multiemployer pension plan withdrawal liability.
In a report to Congress, the agency says the program will likely run out of money by 2025.
While retirees say the cuts are unfair, regulators say without them, the result could be much worse.