17 September 2020
On September 14, the Pension Benefit Guaranty Corporation released its 2019 FY Projections Report.
01 July 2020 - By Casey B. Baldwin, John Rowland
This article provides an overview of the benefit suspension process, identifies considerations for trustees and plan professionals, and shares the lessons learned from previous applications.
09 June 2020 - By Sean Silva, Eric Walters
On April 28, 2020, the Departments of Labor and Treasury and the Internal Revenue Service jointly issued guidance extending certain deadlines related to COBRA continuation coverage.
03 June 2020 - By William Wade
What are the potential penalties if a multiemployer pension plan reaches the end of its funding improvement plan or rehabilitation plan period and falls short of the goals?
22 May 2020 - By Grant Camp, Aaron Shapiro
This alert focuses on the multiemployer provisions in Division D of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.
13 May 2020 - By John Donohue, Thomas M Carrabine
This article provides an overview of the distribution process and why now may be a good time for trustees to consider moving the defined contribution plans to a daily valued environment.
11 May 2020 - By Joel E. Stewart, Yutaro Seki
This Multiemployer Alert provides a summary of past multiemployer pension funding relief and recent proposals.
30 April 2020 - By Ladd E. Preppernau
Retirement planning is a long-term undertaking, and the consequences of rules and actions may not be known until years, or even decades, after they are implemented.
30 April 2020 - By Ladd E. Preppernau, Grant Camp
A strong understanding of the historical regulatory perspective can serve to inform the discussion on future regulatory changes designed to improve the long-term health of multiemployer pension plans.
12 April 2020 - By Kelly S. Coffing, Timothy L. Connor, Nina M. Lantz
COVID-19’s impact goes beyond the market decline. Many industries are being hit hard by a sudden drop-off in industry activity, with concern that the recovery of normal operation could take several years, reducing the contributions coming into multiemployer pension plans.
06 April 2020 - By Sean Silva, Reza Vahid
This alert describes Title III (Supporting America’s Health Care System in the Fight Against the Coronavirus), Part II (Access to Healthcare for COVID-19 Patients), Subpart A (Coverage of Testing and Preventive Services), of the CARES Act, which expands upon Division F, Health Provisions, of the Families First Coronavirus Response Act.
23 March 2020 - By Sean Silva, John R. Botsford, Ilina Ingolia
This article contains specific information about what the “Families First Coronavirus Response Act” covers.
23 March 2020 - By Ladd E. Preppernau, Carrie Vaughn
On the heels of the dot-com bust from 2000-2002 and the global financial crisis in 2008, can multiemployer plans survive a third “once-in-a-lifetime” event?
26 November 2019 - By Grant Camp, Ryan Rowland
This alert summarizes key aspects of the proposed Multiemployer Pension Recapitalization and Reform Plan.
22 November 2019 - By Noah Llanda
This alert focuses on the Pension Benefit Guaranty Corporation (PBGC) annual report as it pertains to the PBGC Multiemployer Program.
24 September 2019
The Segal Blend method of determining withdrawal liabilities in multiemployer pension plans was ruled improper in a recent case with the New York Times but it has been upheld in others, leaving the issue open for future challenges.
09 August 2019
The projections report for fiscal year (FY) 2018.has been released by the Pension Benefit Guaranty Corporation (PBGC), with three key takeaways for plan sponsors.
30 July 2019 - By Carrie Vaughn
The determination letter program for certain retirement plans, previously restricted in 2017, will be expanded on September 1, 2019.
24 May 2019 - By Yutaro Seki , Michael A. Sudduth
The Pension Benefit Guaranty Corporation’s final rule issued on May 2 addresses reporting and disclosure requirements for plan sponsors of certain terminated and/or insolvent multiemployer pension plans.
06 March 2019 - By Josh Goodwin, Biljana Guchereau
In February, the Pension Benefit Guaranty Corporation issued a proposed rule to amend and simplify the calculation of withdrawal liability for plans with rehabilitation plans or funding improvement plans that have made certain benefit or contribution changes. This paper provides a detailed review of these proposed rules.
04 February 2019
Many multiemployer pension plans will not be able to pay the full value of promised benefits to future retirees, and additional measures will be needed in order for them to do so.
21 January 2019 - By Sean Silva, David Stoddard
As fiduciaries to health and welfare trusts, trustees must understand the details regarding their stop-loss carrier contracts in order to ensure the trust is receiving the most competitive price while also receiving sufficient protection against large claims in order to maintain sufficient trust assets.
28 June 2010
The pension funding relief provisions of the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 are generally effective the first day of the first plan year ending after August 31, 2008.
05 January 2009
This Multiemployer Alert focuses on the Worker, Retiree, and Employer Recovery Act of 2008 provisions that demand immediate or near-term decisions by multiemployer plan trustees.