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Compliance News

Legislative and Judicial Actions

The DOL seeks comments about protecting plan assets from climate-related risk; a proposed SEC rule would intensify registered investment adviser...

Compliance

March 4th, 2022

Understanding PRT: Fiduciary and Admin Considerations

When transferring pension risk via a full or partial buy-in or buy-out, plan sponsors have a fiduciary obligation to ensure...

Compliance

March 2nd, 2022

Lawmakers Debut Pension Tracker Showing Rescued Plans

Legislation passed last year allows multiemployer plans in danger of becoming insolvent to apply for funds to cover participant benefit...

PAJF22-CN-PS-090921_Comparing-Cost-of-Offering-DB-with-DC_Jonathon-Rosen-web

Compliance News

Legislative and Judicial Actions

The DOL denies general support for private equity; the Supreme Court sends ‘Northwestern’ back to the appeals court; the PBGC...

Compliance

January 19th, 2022

Another Stressed Union Pension to Get PBGC Support

The plan was projected to run out of money at some point this year, but the special financial assistance from PBGC should prevent this outcome.

Compliance

December 22nd, 2021

PBGC Approves First Special Financial Assistance Funds

A transportation workers’ multiemployer pension plan will receive funds created by the American Rescue Plan Act of 2021 to pay retirement benefits.

Compliance

November 16th, 2021

Both PBGC Insurance Programs Report Positive Financial Positions

The agency says the net positive position for its multiemployer plan program is thanks to the American Rescue Plan Act (ARPA).

Compliance News

Legislative and Judicial Actions

The SEC returns to cybersecurity enforcement pledge; Form 5500 revisions; revenue-sharing disclosure failures result in SEC action; and more.

Compliance

September 22nd, 2021

PBGC Publishes Q&As About Multiemployer Plan Financial Assistance Applications

The web page addresses how applications submitted before a final rule is published will be affected by any changes PBGC makes.

Compliance

September 14th, 2021

DOL, IRS and PBGC Call for Comments on Form 5500 Revisions

In addition to asking for input on the SECURE Act’s requirements and the current Form 5500, the DOL has published a notice of proposed changes to its implementation...

Compliance News

Legislative and Judicial Actions

Financial assistance for multiemployer plans; faith-based entities may now benefit from the public student loan forgiveness program; FINRA project examines...

Compliance

July 9th, 2021

PBGC, IRS Issue Guidance Related to Financial Assistance for Multiemployer Plans

The agencies have filled in the gaps for implementing provisions of the American Rescue Plan Act.

Compliance

April 13th, 2021

Four Considerations Regarding Union Pension Funding Relief

Signed into law in early March, the American Rescue Plan Act (ARPA) included $1.9 trillion in collective economic relief, much...

Compliance

January 19th, 2021

Democrats Have Won the Power to Fix Union Pensions

A bipartisan compromise solution to end the multiemployer pension crisis is urgently required, sources agree, and one could finally be...

Compliance

December 16th, 2020

Union Pension Funding Advocate Urges Immediate Action

Beyond the ethical imperative to address the crisis facing many multiemployer pensions, today’s ultra-low interest rate environment presents an opportunity too good to pass up, one union pension...

Compliance

December 14th, 2020

PBGC Director Says Legislation Needed to Help Multiemployer Plans

The agency's Fiscal Year (FY) 2020 Annual Report shows its multiemployer insurance program will become insolvent sometime in FY 2026.

Compliance

December 4th, 2020

2020 Brought Little Progress on Union Pension Funding Crisis

With so many other challenges and debates dominating the halls of the Capitol, it is hard to imagine the union pension funding crisis will be addressed during this...

Compliance

December 2nd, 2020

DOL Releases Updated Versions of Form 5500

The agency has also highlighted important modifications to the form.

Compliance

November 6th, 2020

PBGC Takes Over J.C. Penney Pension

A purchase agreement allowing the company to emerge from Chapter 11 bankruptcy does not include the pension plan debts or assets, despite its comparatively strong funding position.

Compliance

August 6th, 2020

Musician Union Pension Clashes with U.S. Treasury

Congress is divided on how to address the union pension funding crisis, which is exemplified by the plight faced by the American Federation of Musicians and Employers’ Pension...

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