Pensions
TPR ‘Evolving’ to Shift Focus to Defined Contribution Master Trusts
The pension watchdog’s CEO says a ‘radical evolution is taking place’ among U.K. pensions.
Tag: Multiemployer Pension Plans
Pensions
Illinois Multiemployer Fund Agrees to Repay $8M in Excess Bailout Funds
The repayment is the second related to overpayment of excess funds received from the PBGC in connection with the Special Financial Assistance Program.
Research
Strong Multiemployer Pension Funding Mostly Due to SFA Grants, Asset Performance
The two factors contributed approximately even amounts toward improved funding levels.
Research
Research Report: Pension Bailouts Lead to Risky Behavior
According to the paper, the American Rescue Plan Act is a near-term plug but does not fix long-term insolvency problems.
Pensions
New Jersey Police, Fire Pension Seeks CIO, Plans to ‘Dramatically’ Expand Staff
The $31 billion pension fund has also issued an RFP for a custodial services provider.
Regulation
SECURE 2.0 Allows More Pension Funds to Transfer Money to Health Plans
But the transfers are small and to a rarely offered account type, which means not many plans are taking advantage.
Regulation
Cement Mason Pension Restored by PBGC Grant
The plan will receive $3.2 million, plus loan repayments, in special financial assistance.
Regulation
Five Multiemployer Pension Funds Bailed Out By PBGC This Week, Totaling More Than $2 Billion
The PACE Industry and National Integrated Group Pension plans make up the bulk of that amount.
Regulation
DOL Offers Guidance for Multiemployer Plans
Bulletin provides FAQ to help plans that received Special Financial Assistance meet notice requirements.
Pensions
Multiemployer Plan Funded Levels Fall Despite American Rescue Plan Aid
Investment losses dragged aggregate funded levels 12 percentage points lower in 2022.
Asset Allocation
Multiemployer Plan Funding Levels Down Sharply in First Half of 2022
The total funding shortfall for more than 1,200 plans balloons by $85 billion in six months.
Regulation
PBGC Finalizes Rescue of Ailing Multiemployer Pension Plans
The aid, which has been operating on an interim basis, has already protected nearly 130,000 individuals’ pension benefits across some 560 businesses.
Regulation
PBGC Soon to Release New Final Rule on Special Financial Assistance for Multiemployer Plans
Public commenters expressed concerns over investment restrictions, discount rate calculations.
News
New York City-Based Multiemployer Plans Approved for PBGC Bailout
The Local 584 Plan and the Milk Industry Office Employees Pension will receive funds under the Special Financial Assistance Program.
Newsmakers
PBGC Bails Out Struggling NY Pension With $112.6 Million in Aid
The Local 138 Pension Plan becomes the first multiemployer plan to receive funds under the American Rescue Plan Act.