SFA Archives - Word on Benefits

PBGC SFA Program Update: Where Are We Now?

Jenny Gartman, CEBS

04 Oct 202304 Oct 2023

The Special Financial Assistance (SFA) Program was enacted as part of the American Rescue Plan Act (ARPA) of 2021. Here’s an update on developments since the previous update in March 2023. Summary of application activity. According to a PBGC press release, as […]

American Rescue Plan Act (ARPA) Defined Benefit (DB) Plans DOL Employee Benefits ERISA MPRA Retirement

How SFA Rules Impact Annual Funding Notice Requirements

Jenny Gartman, CEBS

09 May 202309 May 2023

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 […]

American Rescue Plan Act (ARPA) Compliance DOL Employee Benefits ERISA PBGC Pensions U.S.

Where We Are Now: Special Financial Assistance Under the American Rescue Plan Act

Kathy Bergstrom, CEBS

28 Mar 202328 Mar 2023

From capital market return expectations to the rules that cover the program, a lot has changed in the two years since the American Rescue Plan Act was signed into law and created the Special Financial Assistance (SFA) program for struggling multiemployer pension […]

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

PBGC Special Financial Assistance “Lock-In” Application for Nonpriority Plans

Jenny Gartman, CEBS

08 Nov 202208 Nov 2022

Multiemployer pension plans that intend to apply for SFA from the PBGC should note the schedule for reviewing applications and may want to consider submitting a lock-in application.

American Rescue Plan Act (ARPA) Communication Compliance Employee Benefits Financial Education Financial Wellness Legislative U.S.

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. […]