Public Pension Funding Index, 1st quarter 2021
Public pensions funded ratio rises to new high of 79.0% in the first quarter, up from 78.6% three months earlier, fueled by strong and steady market rebound since March 2020.
This alert covers on a high level the potential impact of a bill introduced Feb. 24 in Congress on multiemployer pension plans if the bill were to become law. Representative John Yarmuth (D-KY) introduced the American Rescue Plan Act of 2021 (H.R. 1319) in the House. The bill provides for COVID-19 relief, including the Butch Lewis Emergency Pension Plan Relief Act of 2021 (Butch Lewis EPPRA). This alert highlights five possible impacts of Butch Lewis EPPRA on plans.