Life in Indonesia: Second quarter 2022
Our review of life insurance industry developments in Indonesia from the second quarter of 2022.
The American Rescue Plan Act of 2021 (ARPA) was passed by both the House and Senate and was signed into law by President Biden on March 11, 2021. It is the most notable multiemployer legislation enacted since the Multiemployer Pension Reform Act of 2014 (MPRA). In this review, we summarize the provisions of the law that apply to multiemployer defined benefit plans. The provisions discussed include temporary relief for plans, special financial assistance program for financially-troubled plans, and the premium increase for the Pension Benefit Guaranty Corporation.