The U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) has issued FAQs on optional pension-linked emergency savings accounts (PLESAs) as part of the implementation of the SECURE 2.0 Act of 2022 (ERISA section 801). SECURE 2.0 authorized 401(k), 403(b) and governmental […]
The American Rescue Plan Act (ARPA) of 2021 authorized special financial assistance (SFA) through the Pension Benefit Guaranty Corporation (PBGC) to eligible severely underfunded multiemployer plans. ARPA added section 4262 to Title IV of the Employee Retirement Income Security Act (ERISA). The multiemployer plans […]
A new rule proposed by the Pension Benefit Guaranty Corporation (PBGC) would increase the certainty of withdrawal liability determinations for multiemployer benefit plans and likely help prevent withdrawal liability disputes from going to arbitration and litigation, PBGC officials say. The proposed permissible […]