The Pension Benefit Guaranty Corporation (PBGC), a federal government agency, is proposing a rule to facilitate mergers of multiemployer pension plans. Mergers are a way some plans can preserve and protect the benefits earned by workers and retirees.
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The proposed rule was published in the Federal Register on Monday, June 6. It implements changes under the Multiemployer Pension Reform Act of 2014 (MPRA). PBGC has authority to facilitate plan mergers by providing technical assistance, or financial assistance, if necessary, to prevent plan insolvency.