American Rescue Plan Act Turns Things Around for PBGC Multiemployer Plan Program
By Rebecca Moore Source: Plan Sponsor The Pension Benefit Guaranty Corporation (PBGC) has released its Fiscal Year (FY) 2021 Annual Report, which shows its multiemployer plan insurance program has a positive net position of $481 million at the end of FY 2021—a sharp contrast to the program’s deficit of $63.7 billion at the end of FY 2020. The agency’s multiemployer plan program is now likely to remain solvent for more than 30 years, due to the enactment of the [...]