MPRA Archives - Word on Benefits

PBGC Releases Special Financial Assistance Final Rule

Kathy Bergstrom, CEBS

08 Jul 202210 Nov 2022

Changes to the Special Financial Assistance (SFA) Program announced Wednesday by the Pension Benefit Guaranty Corporation (PBGC) will improve the ability of underfunded multiemployer defined benefit (DB) pension plans to pay benefits to their participants, PBGC and Department of Labor officials say. […]

American Rescue Plan Act (ARPA) Employee Benefits MPRA Multiemployer PBGC Pensions Retirement U.S.

PBGC Implements Special Financial Assistance Program for Financially Troubled Multiemployer Pension Plans

Jenny Gartman, CEBS

15 Jul 202115 Jul 2021

The Pension Benefit Guaranty Corporation (PBGC) has released an interim final rule that focuses on special financial assistance (SFA) applications and related restrictions and conditions pursuant to the American Rescue Plan Act of 2021 (ARPA). Read more about ARPA’s provisions to transfer […]

American Rescue Plan Act (ARPA) Defined Benefit (DB) Plans Employee Benefits Legislative Multiemployer PBGC Retirement U.S.

What the American Rescue Plan Act Means for Financially Troubled Multiemployer Pension Plans

Jenny Gartman, CEBS

10 Mar 202128 Apr 2021

Listen to this post here. After years of debate on the topic of funding relief for multiemployer pension funds, Congress acted this week with the passage of the American Rescue Plan Act of 2021 (Rescue Plan)—likely one of the most significant pieces […]

Defined Benefit (DB) Plans Employee Benefits Multiemployer Pensions Retirement U.S.

Multiemployer Pension Actuarial Certifications Revisited

Jenny Gartman, CEBS

28 Jul 202028 Jul 2020

The COVID-19 pandemic has drastically impacted benefit trust funds and will continue to have a marked effect on these plans. With volatile market performance that has not been seen since 2008, many plans are finding that their funding levels are suddenly in […]

Multiemployer Pension Plans Solvency Discussions: What’s Next?

Defined Benefit (DB) Plans Employee Benefits Multiemployer

Multiemployer Pension Solvency Discussions: What’s Next?

Julie Stich, CEBS

29 Nov 201829 Nov 2018

Update: The Joint Select Committee on Solvency of Multiemployer Pension Plans was charged with developing and releasing proposed legislation by November 30 to resolve multiemployer pension solvency challenges. On November 29, the Committee’s co-chairs announced that more time is needed. According to […]

Employee Benefits Multiemployer Pensions Regulatory Retirement

Central States Benefit Reduction Application Denied—Now What?

Julie Stich, CEBS

13 May 201618 May 2016

On May 6, 2016, the Treasury Department announced that it—along with the Department of Labor and the Pension Benefit Guaranty Corporation—was rejecting the application the Central States Teamsters filed for benefit reductions (a.k.a. suspensions), as submitted in September 2015. In rejecting the […]

Defined Benefit (DB) Plans Employee Benefits Multiemployer Pensions Regulatory Retirement

Multiemployers Watching But Not Yet Acting on MPRA

Neil Mrkvicka

23 Jul 201523 Jul 2015

Multiemployer funds are closely monitoring and discussing in detail the Multiemployer Pension Reform Act of 2014 (MPRA), but the majority of funds responding to our recent survey do not plan to take the more drastic measures MPRA allows. These findings and more are revealed […]

Defined Benefit (DB) Plans Employee Benefits Multiemployer Pensions Retirement

MPRA Guidance—What Does It Mean?

Julie Stich, CEBS

13 Jul 201515 Jul 2015

In mid-June, the Internal Revenue Service (IRS) and Pension Benefit Guaranty Corp. (PBGC) released their first round of guidance relating to the Multiemployer Pension Reform Act (MPRA) provisions on benefit suspensions (reductions) and pension partitions. MPRA is a complex law, and the […]

Defined Benefit (DB) Plans DOL Employee Benefits ERISA Multiemployer Pensions Regulatory

Your Annual Funding Notice May Need Tweaking

Lois Gleason, CEBS

19 Mar 2015

Defined benefit pension plan administrators: You might need to change your annual funding notice. The Department of Labor published a final rule in the Federal Register on February 2, 2015 clarifying the requirements under ERISA 101(f) that administrators of defined benefit plans, […]

Affordable Care Act (ACA) Employee Benefits Health Care Regulatory

Cromnibus Keeps ACA in the Spotlight

Lois Gleason, CEBS

22 Jan 201522 Jan 2015

If the Affordable Care Act were a celebrity, it would be that really big star you either love or hate—or maybe love to hate. Since 2010, ACA has commanded the U.S. employee benefits spotlight. However, not even the most famous celebrity can hold […]