Pensions
PBGC Approves SFA Funding for 4 Pension Funds
Teamsters Local 111, Marine Carpenters Fund, UFCW Tri-State Plan and I.B.E.W Pacific Coast Fund, all distressed funds, were provided with support.
Tag: PBGC
Pensions
PBGC Approves $23.6M Grant to Midwestern Teamsters’ Pension Fund
Special financial assistance funds will preserve pension benefits for 615 transportation-industry participants.
Pensions
PBGC Approves $635M to Carpenters Pension Fund
The Pension Benefit Guaranty Corporation will provide Special Financial Assistance Program funds to the Detroit Carpenters Fund.
Pensions
Deadline for PBGC Premiums Is Approaching
The due date for premiums is on October 15; roughly 450 plans still have the opportunity to recover $800 million in 2023 premiums.
Pensions
PBGC Grants $31.6M to Newspaper Drivers Pension Plan
The Ohio-based Newspaper Drivers Local 473 Plan will receive funding under the Special Financial Assistance Program.
Regulation
Teamsters Plan Receives $5.7B From PBGC
The grant will keep the plan solvent through 2051.
Regulation
PBGC Insurance Funds Well-Funded for Years to Come
The Pension Benefit Guaranty Corporation’s projection shows both pension insurance funds are in great shape financially.
Regulation
PBGC FAQ Speaks to Bond Qualifications for SFA Investing
SFA recipients must invest at least two-thirds of their grant in investment-grade fixed income assets.
Regulation
PBGC Issues $1.5B to Struggling Musicians’ Pension
The grant is among the largest the PBGC has made.
Regulation
Kansas Construction Pension Fund Receives $43.1M PBGC Grant
The funding will keep the plan solvent through 2051.
Regulation
PBGC Rescues 5 Multiemployer Pension Funds Covering 200,000 Workers and Retirees
The grants totaled nearly $6 billion in value.
Corporate Moves
The Evolution of Insurance in the Age of PRT
Private equity investment in the insurance industry is affecting how some view risks in the pension risk transfer market, while others say it will broaden the PRT sector’s appeal as a diversification tool.
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.
Regulation
PBGC Rescues Two Pensions Covering 25,000 People
The SFA funds used to restore the plans total more than $500M.
Regulation
PBGC Grants $90M to 2 Multiemployer Plans
1 plan was in the entertainment industry and the other in the service industry.