Regulation
PBGC Rescues 5 Multiemployer Pension Funds Covering 200,000 Workers and Retirees
The grants totaled nearly $6 billion in value.
Tag: PBGC
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.
Regulation
UFCW Regional Plan Receives $54.6M Grant From PBGC
The grant will keep the plan solvent through 2051.
Regulation
Ann Orr: New PBGC Acting Director
Orr takes over on an acting basis after Hartogensis’ term expired.
Regulation
Congress Should Incentivize Pension Plan Creation, NIRS Report Says
The report provides 6 recommendations on how Congress can increase DB plan creation.
Regulation
PBGC Issues SFA Grants to Two Multiemployer Plans
The two plans were in the transport and food service industries.
Regulation
Central States Reaches Agreement to Repay $127M Overpayment
The plan reached a settlement with DOJ on Monday that will clear its debt with the PBGC.
Regulation
PBGC Responds to House Republicans’ Subpoena on Central States’ Overpayment
According to the PBGC, the DOJ is working with Central States to secure the repayment.
Regulation
After Receiving Extra $127M, Central States Working on Repayment Plan
In addition to that update at a subcommittee hearing, House Republicans suggested the PBGC cut premiums for its single-employer program.
Regulation
Central States Legally Required to Repay $127M to PBGC
The multiemployer plan received an overpayment due to an incomplete death audit conducted by the PBGC.
Regulation
PBGC Paid $127M for Deceased Central States Participants, Senate Republicans Demand Repayment
The error was identified in November 2023, and the Central States pension plan has asked for legal clarity on how to return it.
Research
Strong Multiemployer Pension Funding Mostly Due to SFA Grants, Asset Performance
The two factors contributed approximately even amounts toward improved funding levels.