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. […]
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 […]
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 […]