Defined Benefit (DB) Plans

2023 Employee Benefits Reporting and Disclosure Calendars

Jenny Gartman, CEBS
 

Plan sponsors and administrators are encouraged to reference these comprehensive calendars to stay on track in 2023. Health and Retirement Plans Subject to ERISA (Includes Multiemployer Plans) Health and Welfare Plans New deadlines in 2023 are: Retirement Plans Defined Contribution Defined Benefit […]

Everything Plan Sponsors Need to Know About SECURE Act 2.0

On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act of 2022 (HR 2954), otherwise known as SECURE Act 2.0, by a vote of 414-5. Secure Act 2.0 builds on the 2019 Setting Every Community Up for […]

The Multiemployer Retirement Plan Landscape: 10 DB Plan Takeaways

Justin Held, CEBS
 

According to the most recent data from The Multiemployer Retirement Plan Landscape: A Fifteen-Year Look (2004-2018), demographic trends in multiemployer plans have become less favorable as the number of actively working participants have decreased relative to the number of inactive and retired […]

Transitioning from DB to DC: What You Need to Know

Justin Held, CEBS
 

In my years compiling benchmarking data for the International Foundation, one of the most notable trends has been the decreasing prevalence of employer-sponsored defined benefit (DB) pension plans. In the 2011 Employee Benefits Survey, 57% of responding organizations offered a DB pension […]

PBGC Improves Multiemployer Outlook Due to ARPA

PBGC Improves Multiemployer Outlook Due to ARPA

Jenny Gartman, CEBS
 

On September 20, 2021, PBGC released its Fiscal Year (FY) 2020 Projections Report and a Five-Year Multiemployer Program Report. The reports show a substantial improvement in the outlook for PBGC’s Multiemployer Insurance Program due to the enactment of ARPA. The analysis of […]

Five Key Points to Know About PBGC Special Financial Assistance

Five Key Points to Know About PBGC Special Financial Assistance

Jenny Gartman, CEBS
 

During a webcast on August 10, 2021 titled Financial Assistance Program Overview for Financially Troubled Multiemployer Pension Plans, speakers shared insights on the Pension Benefit Guarantee Corporation (PBGC) special financial assistance (SFA) program for financially troubled multiemployer plans under the American Rescue […]

Special Financial Assistance: Filing and Application Tips From PBGC Staff

Special Financial Assistance: Filing and Application Tips From PBGC Staff

Jenny Gartman, CEBS
 

The Pension Benefit Guaranty Corporation (PBGC) and Treasury officials have delivered a new briefing on the special financial assistance (SFA) program for financially troubled multiemployer plans under the American Rescue Plan Act of 2021 (ARPA). During the briefing on July 22, 2021, […]

New Report: Impact of COVID-19 on Pensions and Benefits in Canada

New Report: Impact of COVID-19 on Pensions and Benefits in Canada

The COVID-19 pandemic has had significant implications for workplaces across the world, and employers and workers have needed to make difficult decisions regarding retirement, health and paid leave benefits. A new International Foundation report, Impact of COVID-19 on Pensions and Benefits in Canada: […]

Three Key Takeaways: What ARPA Means for Green Zone Pension Plans

Three Key Takeaways: What ARPA Means for Green Zone Pension Plans

Jenny Gartman, CEBS
 

It was big news back in March when the American Rescue Plan Act of 2021 (ARPA) was enacted to provide grants, called “special financial assistance,” to boost the solvency of eligible critical and declining status or insolvent plans under the Pension Benefit […]