Regulation
PBGC Assists Automotive, Trucker, Retail Pension Plans
The total assistance to three multiemployer plans amounted to more than $1.4 billion.
Tag: SFA
Regulation
Five Multiemployer Pension Funds Bailed Out By PBGC This Week, Totaling More Than $2 Billion
The PACE Industry and National Integrated Group Pension plans make up the bulk of that amount.
Regulation
PBGC Provides Supplemental Assistance to Teamsters Local 966
The plan previously received more than $50 million in December 2022.
Regulation
PBGC Bails Out Service, Manufacturing, Transportation Pension Funds
The three plans will receive more than $600 million for back payments and to protect their solvency through 2051.
Regulation
PBGC Bails Out Bakery Driver, Newspaper Plans
The two pension plans will receive more than $300 million in SFA relief.
Regulation
Cement Workers’, Teamsters’ Pensions Receive Additional PBGC Funding
The PBGC paid out $438 million in additional funding to the NYS Teamsters Conference Plan and smaller amounts to three other plans.
Regulation
PBGC Bails Out 2 Construction Pension Funds
Pension plans for ironworkers in Alaska and plasterers in Oregon will receive assistance.
Newsmakers
PBGC Approves Bailouts for Five More Multiemployer Plans in May
The agency has now approved more than $6.2 billion in special financial assistance funds to cover nearly 120,000 participants.
Newsmakers
PBGC Approves Over $300 Million in SFA Funds to 3 Pensions
The struggling multiemployer plans cover nearly 2,000 participants.
Newsmakers
PBGC to Provide Nearly $700 Million to 3 Insolvent Multiemployer Plans
Plans covering over 5,550 participants have been approved to receive bailout funds under the American Rescue Plan.
News
New York City-Based Multiemployer Plans Approved for PBGC Bailout
The Local 584 Plan and the Milk Industry Office Employees Pension will receive funds under the Special Financial Assistance Program.
Newsmakers
Teamsters Pension Applies for Bailout After $58 Million Legal Appeal Dismissed
A circuit court has denied the New York multiemployer pension’s attempt to recover withdrawal liabilities from the bankrupt firm’s new owner.
Newsmakers
PBGC Approves $100.5 Million Bailout of New Jersey Pension Plan
Teamsters Local 408 is the 5th plan to be approved under the American Rescue Plan Act’s Special Financial Assistance program.
Regulation
PBGC Issues Interim Final Rule on Multiemployer Bailout Plan
The agency’s proposal sets a priority system for distributing $94 billion to severely underfunded pension plans.