The latest Pension News

Biden announces $36 billion in federal aid for struggling Central States Teamsters plan

By Brian Croce Source: Pensions & Investments President Joe Biden on Thursday announced that the Pension Benefit Guaranty Corp. has approved $36 billion in federal assistance to shore up a massive union multiemployer pension plan facing steep cuts. Teamsters Central States, Southeast & Southwest Areas Pension Fund, Chicago, will receive the funds under the Special Financial Assistance Program. The program, created by the American Rescue Plan Act that Democrats passed [...]

New DOL Proposal Would Allow Fiduciaries to Self-Correct Certain Errors

By Paul Mulholland Source: PlanSponsor The Department of Labor has proposed a rule, released on November 21, that aims to simplify and expand its Voluntary Fiduciary Correction Program. If adopted, the rule new would allow fiduciaries to self-correct for participant contributions that are not invested or participant loan repayments that are not repaid and then notify the DOL after the fact. Under current rules, fiduciaries have to apply to the [...]

The Mid-Term Results and What They Mean for ESG and SECURE 2.0

By Paul Mulholland Source: PlanSponsor This year’s midterm elections resulted in Democrats keeping their narrow lead in the Senate but losing control of the House to Republicans. Republicans are expected to have a nine-seat majority in the House, and Democrats will either have a one-seat majority or the tiebreaking vote in an evenly split Senate, pending the result of the Georgia runoff election on December 6. With the House changing [...]

Global CORPaTH Pension Alliance Seeks Delay of Albertsons’ Plan to Give $4 Billion in Dividends Pending Fulfillment of Pension Obligations

CORPaTH, a global alliance of pension administrators, trustees and advisers, joins local Unions of the United Food and Commercial Workers in demanding Albertsons delay an anticipated $4 billion dividend to shareholders until the company’s current pension obligations are assessed and fulfilled.

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Welcome CORPaTHIANS!

CORPaTH is an alliance of trustees, consultants, asset managers, administrators, elected officials and other professionals who oversee pension assets, Lifetime Income Security Accrual (LISA) Pension Plan and Guaranteed Lifetime Income Accounts℠ (GLIA) for the benefit of working men and women who earn and deserve a secure retirement.

We work to perpetuate, protect and expand defined-benefit pension plans, as well as advocate on behalf of our members and insist on high-quality corporate governance and responsible investment strategies.

We also educate our members on issues critical to the current and future health of pension funds.

The “Core” of our strategy is to advance the financial and policy influences of key decision-makers of defined-benefit pension plans and to accelerate our unified actions with education, knowledge and commitment.