16 07, 2015

Multiemployer funds, PBGC face hurdles with partition

2015-07-16T16:46:36-07:00July 16th, 2015|Categories: PBGC|Tags: , |

Trustees of struggling multiemployer pension funds have a narrow window of opportunity to do more than just cut benefits in order to survive, if they can take advantage of the Pension Benefit Guaranty Corp. partition program before the agency itself runs out of money, benefits experts said. The Multiemployer Pension Reform Act of 2014, which allows deeply underfunded plans to reduce benefits to avoid insolvency, also expanded the PBGC’s power to partition plans. […]

7 01, 2015

Pension reforms left undone

2015-01-07T22:36:07-08:00January 7th, 2015|Categories: Pension Reform|Tags: , , |

One of the final pieces of legislation passed by the last Congress included provisions to help troubled multiemployer pensions and, it is hoped, shore up the Pension Benefit Guaranty Corp. Called the Multiemployer Pension Reform Act of 2014, it lets employees and retirees approve cutting their own benefits to help plans avoid insolvency. The legislation had its critics, but there was much bipartisan as well as union-management support. Among the leading advocates was Randy DeFrehn, executive director of the National [...]

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