Regulation
Senators Introduce Bipartisan Bill to Increase Retirement Plan Participation
The Improving Access to Retirement Savings Act is intended to open MEPs to 403(b) plans and more small businesses.
Tag: Multiemployer Pension Plans
Research
COVID-19 Has Disproportionate Impact on Multiemployer Plans by Industry
Survey finds construction industry plans remain healthy, while transportation and manufacturing plans struggle.
Pensions
COLA Freeze Removed from Pension Bailout Plan
American Rescue Plan Act amendment from Chuck Schumer removes cost-of-living adjustment freeze.
Pensions
Senate Parliamentarian Ruling Keeps Pension Bailout Alive
Multiemployer pension reform has been ruled eligible to be included in the $1.9 trillion COVID-19 relief package.
Pensions
Pension Relief Plan in COVID-19 Stimulus Bill That Passes House
The legislation goes to the Senate, which could vote on the proposal later this week.
Pensions
Multiemployer Pensions Reach Highest Funding Levels in 13 Years
Robust asset gains in 2020 raised funded ratios to pre-global financial crisis levels.
Pensions
House Includes Pension Reform Plan in COVID-19 Relief Bill
The provision would beef up the PBGC and provide a boost for multiemployer and single-employer plans. But it would also freeze COLAs.
Pensions
Democrats Introduce Bill to Protect Pensions, Expand PGBC’s Power
Proposed legislation would create PBGC partition program and end ability to seek benefits cuts under MPRA.
Pensions
Outlook Improves for Multiemployer Reform in 2021, 2022
Democratic control of Congress could help break the deadlock over passing legislation to protect pensions and the PBGC.
Pensions
Kroger to Pay Nearly $1 Billion to Ditch Multiemployer Plan
Supermarket operator will fork over $962 million to withdraw from UFCW International Union–Industry Pension Fund.
Pensions
PBGC Multiemployer Program to Become Insolvent by 2026
Agency warns that without legislation, it won’t be able to provide financial assistance to 1,400 plans.
Newsmakers
Senators Urge Pelosi to Include Pension Fix in Next Stimulus Package
However, Senate Majority Leader Mitch McConnell has objected to providing funds to fix pension issues.
Risk
Sanders, Van Hollen Introduce Bill to Cut Executive Tax Break to Shore Up Pensions
Presidential hopeful says legislation would free up $15 billion to help fund struggling multiemployer pensions.
Pensions
Trump Wants $26 Billion Premium Hike for PBGC Multiemployer Plan
White House wants new variable-rate premium, saying that would help stave off insolvency for 20 years.
Multiemployer Plans Funded Status Rebounds in H1 2019
‘Stellar asset gains’ raise plans’ funded ratio to 82%.