Newsmakers
Dhillon Nominated to Lead PBGC
The former Equal Employment Opportunity Commission chair under President Donald Trump is now expected to lead the Pension Benefit Guaranty Corporation.
Tag: Pension Benefit Guaranty Corporation
Pensions
PBGC’s SFA Program Boosts Multiemployer Funded Level to 97%
Without the $16 billion in special financial assistance from the Pension Benefit Guaranty Corporation, the plans’ funded level would have ended 2024 stagnant, per Milliman study.
Pensions
PBGC Approves $868.6M SFA Grant to Unite Here Retirement Fund
The White Plains, New York-based plan covers 91,744 participants in the hospitality industry.
Pensions
PBGC Approves SFA Funds for 3 Multiemployer Pension Funds
Laborers Local No. 265, Teamsters Local 734 and the IUOE Upstate NY Engineers Fund will receive grants totaling almost $250 million under the Special Financial Assistance Program.
Newsmakers
Anne Henderson Named Participant and Plan Sponsor Advocate at PBGC
Henderson will succeed Constance Donovan, who retired in August after 11 years at the Pension Benefit Guaranty Corporation.
Pensions
Most PBGC Premium Payment Deadlines Accelerated
Premiums for plan years beginning in 2025 will generally be due one month earlier than provided in the PBGC’s payment of premiums regulation.
Pensions
PBGC Updates Rate Tables on Expected Retirement Age, Missing Participants Mortality Assumption
Effective date for the final rule is January 1, 2025.
Pensions
PBGC Provides $29.3M to Teamsters Local 11 Pension Plan
The New Jersey-based transportation workers pension fund is in critical status, according to the Pension Benefit Guaranty Corporation.
Pensions
PBGC Provides Financial Assistance to Pressroom Union Plan
The Graphic Communications International Union Pressroom Unions’ Pension Plan will receive $63.7 million from the Pension Benefit Guaranty Corporation.
Pensions
PBGC to Become Fiduciary Manager of St. Joseph Pension Plan
As St. Joseph Health Services liquidates, the Pension Benefit Guaranty Corporation will take over management of the health care pension plan.
Pensions
PBGC Provides Special Financial Assistance to 100th Pension Fund
In the latest grant, $41.5 million will be provided to the ILWU Employers’ - Warehousemen’s Plan.
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.
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.