PBGC greenlights more than $1 billion to aid 3 multiemployer plans

By Brian Croce Source: Pensions & Investments The Pension Benefit Guaranty Corp. approved special financial assistance applications totaling more than $1 billion to aid three struggling multiemployer pension plans. UFCW Local One Pension Plan will receive approximately $764 million; the IUE-CWA Pension Plan will receive approximately $260 million; and the Newspaper Guild International Pension Plan will receive approximately $62 million, the PBGC announced Wednesday and Thursday. Created by the American Rescue Plan Act that Democrats passed in March 2021, [...]