Archive for the ‘PBGC’ Category

SFA Update – Two New Filers

The PBGC Special Financial Assistance program for troubled multiemployer plans weekend update showed two new bailout filings (Bricklayers and Allied Craftsmen Local 7 Pension Plan out of Akron, OH and Bricklayers Union Local No. 1 Pension Fund* out of Roanoke, VA).

Our updated summary now has 40 plans in the system – 27 approvals and 13 under review.

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SFA Update – Today’s Approval

The PBGC Special Financial Assistance program for troubled multiemployer plans approved a new plan for bailout bringing the tally to 38 plans in the system – 27 approvals and 11 under review.

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SFA Update – One New; One Refile

The PBGC Special Financial Assistance program for troubled multiemployer plans weekend update showed a refiling of a prior withdrawal (So. Cal, AZ, CO & So. Nevada Glaziers Plan) and one new filer (Sheet metal Workers Local Pension Plan out of Masillon, OH).

Our updated summary of the 38 plans in the system – 26 approvals and 12 under review:

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SFA Update – One Withdrawal (From Before)

In the last blog on the PBGC Special Financial Assistance program for troubled multiemployer plans we included in our spreadsheet the New York State Teamsters Pension Plan as being approved. Actually, the PBGC update shows the application as being withdrawn on May 26, 2022.

Our updated summary of the 36 plans in the system – 26 approvals and 10 under review:

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SFA Update – One Refiler

The PBGC Special Financial Assistance program for troubled multiemployer plans weekend update showed a refiling of a prior withdrawal (Freight Drivers and Helpers Local 557) that asked for $1,15 million more.

Our updated summary of the 36 plans in the system – 26 approvals and 10 under review:

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SFA Update – Today’s NJ Approval

The PBGC Special Financial Assistance program for troubled multiemployer plans approved a new plan for bailout bringing the tally to 35 plans in the system – 26 approvals and 9 under review.

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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:

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SFA Update – Two Refilers

The PBGC Special Financial Assistance program for troubled multiemployer plans weekend update showed a refiling of a prior withdrawal (America’s Family Benefit Retirement Plan) that asked for $4,.5 million less and one withdrawal and immediate refile (UTWA NJ Union Employer Pension Plan) that asked for $17,918 more.

Our updated summary of the 37 plans in the system – 25 approvals and 12 under review:

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SFA Update – Today’s Approval

The PBGC Special Financial Assistance program for troubled multiemployer plans approved a new plan for bailout:

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SFA Update – One More Approval

The PBGC Special Financial Assistance program for troubled multiemployer plans approved a new plan for bailout:

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