Asset Allocation
PBGC Grants SFA Money to Third Teamsters Pension in Two Weeks
New Jersey union pension fund, expected to become insolvent in 2023, will receive $54.1 million in assistance.
The total funding shortfall for more than 1,200 plans balloons by $85 billion in six months.
More than $800 million from Special Financial Assistance Program will help two pension funds covering more than 22,000 participants.
The aid, which has been operating on an interim basis, has already protected nearly 130,000 individuals’ pension benefits across some 560 businesses.