The first 34 plans that filed requested a total $8.4 billion in bailout money from the PBGC Special Financial Assistance program for troubled multiemployer plans. No press release but the PBGC weekend update showed one new plan – the Central States, Southeast & Southwest Areas Pension Plan with 364,908 participants which is asking for $35 billion dollars.
We had some 5500 history in an earlier blog through 2016. This is where the plan was last year based on their 5500 filing for 2020:
Plan Name: Central States, Southeast & Southwest Areas Pension Plan
EIN/PN: 36-6044243/001
Total participants @ 12/31/20: 364,908 including:
- Retirees: 191,550
- Separated but entitled to benefits: 121,667
- Still working: 51,691
Asset Value (Market) @ 1/1/20: 12,309,907,060
Value of liabilities using RPA rate (2.95%) @ 1/1/20: $56,188,837,073 including:
- Retirees: $33,047,759,091
- Separated but entitled to benefits: $14,458,423,787
- Still working: $8,682,654,195
Funded ratio: 21.91%
Unfunded Liabilities as of 1/1/20: $43,878,930,013
Asset Value (Market) as of 12/31/20: $10,409,490,502
Contributions 2020 (MB): $662,009,633
Contributions 2020 (H): $406,600,320
Payouts 2020: $2,842,184,040
Expenses 2019: $53,552,2071
Historical information going back to 2007 in a spreadsheet:



Posted by Breaking News: Central States Filed – Actuarial News on April 30, 2022 at 5:17 am
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