8 07, 2022

PBGC’s multiemployer assistance rule loosens investing restrictions

2022-07-08T11:10:04-07:00July 8th, 2022|Categories: PBGC|Tags: , |

By Brian Croce Source: Pensions & Investments The Pension Benefit Guaranty Corp. on Wednesday unveiled a final rule for a federal assistance program that aids struggling multiemployer plans. The Special Financial Assistance Program, created by the American Rescue Plan Act that Democrats passed in March 2021, was designed to shore up struggling multiemployer pension plans through 2051. The PBGC estimates the total cost will range from $74 billion to $91 billion. Under the program, a multiemployer plan is eligible for assistance [...]

19 07, 2021

PBGC multiemployer rule gets mixed reviews

2021-07-19T09:10:25-07:00July 19th, 2021|Categories: PBGC|Tags: , |

By: Hazel Bradford Source: Pensions & Investments The Pension Benefit Guaranty Corp.'s interim final rule about how underfunded multiemployer plans can get special financial assistance is getting mixed reviews. The assistance was part of the American Rescue Plan Act of 2021 enacted in March and provides an estimated $94 billion in federal assistance grants for the most at-risk plans to pay benefits, if it will help them survive for 30 years. The interim final rule, issued July 9, provides [...]

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