The Pension Benefit Guaranty Corporation (PBGC) has approved a partition application and will provide early financial assistance to the United Furniture Workers Pension Fund A, a Nashville-based multiemployer pension plan that covers nearly 10,000 participants.
The Pension Benefit Guaranty Corporation (PBGC) has released a statement on the reorganization plan of Avaya, a multinational communications solutions company. The plan includes a proposal to maintain its pension plan for hourly employees but end its pension plan for salaried employees.
The Internal Revenue Service’s (IRS) delay until 2018 of implementation of updated mortality tables for pensions gives defined benefit (DB) plan sponsors some extra time to prepare for significant changes tied to increased participant longevity. But the delay also may affect pension liability valuation in up to three ways, according to investment consulting firm Cambridge […]
The Pension Benefit Guaranty Corporation (PBGC) in early May clarified guidance issued in late 2016 about its Early Warning Program (EWP), explaining that the program had not been expanded and such a review for an employer’s defined benefit (DB) retirement plan would not be triggered solely by a change in credit quality.
The Moving Ahead for Progress in the 21st Century Act (MAP-21) in 2012 created a participant and plan sponsor advocate for the Pension Benefit Guaranty Corporation (PBGC) whose role is to “act as a liaison between the corporation, sponsors of defined benefit pension plans insured by the corporation, and participants in pension plans trusteed by the corporation.”
The Pension Benefit Guaranty Corporation (PBGC) and Sears Holdings Corporation (Sears) recently reached a new agreement that provides additional funding and security for the company’s two pension plans.
When will the U.S. Pension Benefit Guaranty Corporation (PBGC) premiums force a change in contribution policy? A look at the federal agency’s accounting statements points to the answer: “Sooner rather than later.”
The U.S. Pension Benefit Guaranty Corp. (PBGC) has added two more conditions to the list of early warning factors that it watches and believes may endanger the funding of single-employer defined benefit (DB) retirement plans.
by Mary B. Andersen, CEBS, ERPA, QPA ‘Lost in Space” was a popular television series in the 1960s. Sabotage by crew member Dr. Zachary Smith threw the ship off course and launched endless adventures. Today’s equivalent of Dr. Smith is an unauthorized computer hacker who breaks into data security systems and wreaks havoc on confidential […]
The Pension Benefit Guaranty Corporation (PBGC) has reached an agreement with Alcoa Inc. to provide an additional $150 million in pension contributions to the company’s two largest pension plans, which cover more than 83,000 people.