SFA Update – Two Withdrawals

The PBGC Special Financial Assistance program for troubled multiemployer plans weekend update showed no new filings but two withdrawals (including one of the four looking for a bailout of over $1 billion) leaving 35 plans in the system – 25 approvals and 10 under review. The withdrawals:

The New York State Teamsters Conference Pension and Retirement Fund was looking for a decision (i.e. approval) by May 28, 2022 but instead withdrew their request on May 26, 2022, as did the Freight Drivers and Helpers Local Union No. 557 Pension Plan.

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