updated Wed. March 13, 2024
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Waynesboro Record Herald
April 2, 2018
... labor leaders and retirees are watching closely, because the multi-employer pension that Peeps workers depend on is one of close to 1,300 around the country. In total, 10 million current and retired workers participate in multi-employer pensions, according to the Pension Benefit Guaranty Corporation.
CNNMoney
March 26, 2018
Hearings on the bankruptcy are scheduled to begin Tuesday in US Bankruptcy Court in Wilmington, Delaware. Remington is seeking to confirm its bankruptcy plan by May 3. The company's biggest creditors are Pension Benefit Guaranty Corporation and The Marlin Firearms Company Employees' PensionÃâà...
Chief Investment Officer
March 21, 2018
The loan is secured by properties that were previously subject to a ring-fence arrangement with the Pension Benefit Guaranty Corporation (PBGC). In accordance with a November 2017 agreement with the PBGC, Sears will contribute $407 million of the proceeds into the Sears pension plans. Sears saidÃâà...
Lexology
March 18, 2018
In addition to the DOL, the Internal Revenue Service (IRS), Pension Benefit Guaranty Corporation (PBGC), and Congress have also recently focused on developing minimum appropriate search procedures and missing participant protection programs. On March 5, the Government Accountability OfficeÃâà...
MarketWatch
March 12, 2018
One of the most significant ways in which the 2007-09 recession altered the financial landscape was how the emergence of ultralow interest rates, intended to prop up the recovery, ravaged public and private pension plans, potentially throwing retirees into dire straits during their golden years. But withÃâà...
PLANSPONSOR
March 7, 2018
The Pension Benefit Guaranty Corporation (PBGC) proposes to amend its regulations on guaranteed benefits and asset allocation. These amendments would incorporate statutory changes to the rules for participants with certain ownership interests in a plan sponsor. The amendments in the proposed ruleÃâà...
Planadviser.com
March 6, 2018
The Pension Benefit Guaranty Corporation (PBGC) proposes to amend its regulations on guaranteed benefits and asset allocation. These amendments would incorporate statutory changes to the rules for participants with certain ownership interests in a plan sponsor. The amendments in the proposed ruleÃâà...
cleveland.com
February 28, 2018
"I am hopeful that we can achieve a comprehensive and permanent solution that protects earned pensions, protects taxpayer dollars, prevents the insolvency of the Pension Benefit Guaranty Corporation, and alleviates pressure on employers." Besides Brown's idea, another, floated in the House, is to allowÃâà...
Planadviser.com
February 27, 2018
House Speaker Paul Ryan (R-Wisconsin) announced his appointees to the Joint Select Committee on the Solvency of Multiemployer Pension Plans, charged with improving the solvency of multiemployer pension plans and the Pension Benefit Guaranty Corporation (PBGC). His appointees include: Rep.
Roll Call
February 26, 2018
Schumer also appointed his four members to the select committee on pension plans, which is tasked with improving “the solvency of multiemployer pensions and the Pension Benefit Guaranty Corporation.” The PBGC says its program to pay promised benefits in the event multiemployer plans, which coverÃâà...
Jewish Link of New Jersey
February 22, 2018
The plan is terminated, and taken over by the Pension Benefit Guaranty Corporation (PBGC). The PBGC is a federal insurance agency funded by premiums from pension plans to protect participants in private-sector defined-benefit plans. If a pension does not have sufficient funds to pay retirees, the PBGCÃâà...
New York Times
February 18, 2018
The strain on the multiemployer pension system carries another risk — the potential annihilation of the Pension Benefit Guaranty Corporation, the government agency that insures pension plans. The P.B.G.C. said in its latest annual report that its multiemployer program is likely to run out of money by theÃâà...
PLANSPONSOR
February 8, 2018
Last November, Congressional Democrats introduced the Butch Lewis Act, which they said is legislation that “establishes a legacy fund within the Pension Benefit Guaranty Corporation [PBGC} to ensure that multiemployer pension plans can continue to provide pension benefits to every eligible AmericanÃâà...
cleveland.com
February 7, 2018
"Over the past several years, I've consistently made clear to my colleagues that there is a looming multiemployer pension crisis in America, and responsible reforms are needed to protect retiree benefits, ensure the solvency of the Pension Benefit Guaranty Corporation, and allow participating employers toÃâà...
Chief Investment Officer
December 31, 1999
The Pension Benefit Guaranty Corporation (PBGC) reported that in 2017, it paid out more than $5.6 billion to 868,000 retirees in failed, single-employer plans in all 50 states and US territories. The PBGC, which is the government-sponsored lifeboat for struggling pensions, noted that the amount paid hasÃâà...
Beckley Register-Herald
December 31, 1999
Multi-employer plans are insured by the federal Pension Benefit Guaranty Corporation (PBGC). Recapitalization, or a reorganization that allows big changes to a capital structure, could permit troubled plans to both partition and spin off orphan liabilities, or the accrued liabilities of employers no longerÃâà...
The Hill
December 31, 1999
Pension plans borrowing from PRA would be required to set aside the loan proceeds in separate, safe investments such as annuities or bonds that match the pension payments for retirees. For those plans needing additional help to meet retiree obligations, the Pension Benefit Guaranty Corporation wouldÃâà...
WSB Atlanta
December 31, 1999
It's called the Pension Benefit Guaranty Corporation (PBGC). The PBGC is able to step in to pay pension obligations when companies go out of business. It does so by collecting premiums from employers when they're in business and investing that money. It's a similar concept to the idea of unemploymentÃâà...
PLANSPONSOR
December 31, 1999
Tax reform and Pension Benefit Guaranty Corporation (PBGC) premiums were the key contribution motivators, according to Russell Investments. Funding contributions with cash, company equity, and borrowing all took place in 2017. With tax reform finalized, several members of the $20 billion club haveÃâà...
Greeneville Sun
December 31, 1999
Under MPRA, rather than relying on bailouts from the Pension Benefit Guaranty Corporation (PBGC) — the federal agency that guarantees pension benefits — trustees of at-risk pension plans could submit an application to the federal government to propose a reduction of benefits. While these benefitsÃâà...
Portsmouth Daily Times
December 31, 1999
I am hopeful that we can achieve a comprehensive and permanent solution that protects earned pensions, protects taxpayer dollars, prevents the insolvency of the Pension Benefit Guaranty Corporation, and alleviates pressure on employers.” “Senator Portman has worked consistently behind the scenes toÃâà...
Canton Repository
December 31, 1999
“I am hopeful that we can achieve a comprehensive and permanent solution that protects earned pensions, protects taxpayer dollars, prevents the insolvency of the Pension Benefit Guaranty Corporation, and alleviates pressure on employers.” The 16-member House-Senate commission, created at theÃâà...
