Many single employer defined benefit plan sponsors have seen their plans’ Pension Benefit Guaranty Corporation (PBGC) insurance premiums rise like a hot air balloon in recent years. The PBGC provides … Continued
PBGC released their rules on July 9, 2021 on how the Special Financial Assistance under the American Rescue Plan Act (ARPA) for multiemployer plans will be calculated, applied for, and … Continued
The American Rescue Plan of 2021 (ARPA) contains significant changes to the funding rules of single employer pension plans. The new law may significantly reduce contributions to pension plans that … Continued
On April 9, 2020, the IRS issued Notice 2020-23 to extend key tax deadlines for individuals and businesses in response to the ongoing COVID-19 pandemic. This new tax relief is … Continued
The Rehabilitation for Multiemployer Pensions Act (known as the Butch Lewis Act) was passed by the House on July 24, 2019 and introduced to the Senate. On November 20, Senators … Continued
The Society of Actuaries (SOA) has released mortality improvement scale MP-2019, an annual update to the scale MP series released since 2014. In addition, the SOA has released a new … Continued
Multiemployer pension funds, numbering about 100 nationwide and covering about 1.3 million people, are projected to fail within the next 20 years, according to the Congressional Research Service. Adding fuel … Continued
The Joint Select Committee on Solvency of Multiemployer Pension Plans (JSC) was formed in early 2018 with the objective of developing legislative solutions to improve the solvency of multiemployer pension … Continued
The federal Pension Benefit Guaranty Corporation (PBGC) paid out more than $18.111 million to 4,580 Arkansas retirees in failed pension plans in 2017. The payments came despite fears that rising … Continued