House approves large PBGC premium hikes in budget deal

2015-10-29T21:09:54-07:00October 29th, 2015|Categories: PBGC|Tags: |

The House of Representatives approved a bipartisan budget deal late Wednesday that calls for significantly higher premiums paid by single employers to the Pension Benefit Guaranty Corp., in a 266-167 vote. The Bipartisan Budget Act of 2015 raises federal spending caps and lifts the national debt ceiling before the federal government runs out of borrowing authority Nov. 3. To offset some of those costs, the deal raises plan sponsors’ fixed-rate premium by more than 40% over the next four [...]