25 July 2022 - By Nina Lantz, Michael Caparoso, Aaron Shapiro
This issue of the Multiemployer Review shares key changes from the interim final rule and summarizes the final rule and other recent guidance for the special financial assistance program set up under the American Rescue Plan Act.
08 July 2022
In this Multiemployer Alert, we review the details of the final rule on the special financial assistance program established under the American Rescue Plan Act in 2021.
17 February 2022 - By Milliman Employee Benefits Research Group
Listed are the key administrative dates and deadlines for 2022 for multiemployer defined benefit plans.
19 November 2021
The Pension Benefit Guaranty Corporation released their Fiscal Year 2021 Annual Report, covering financial health, operations, and activities of single employer and multiemployer insurance programs.
22 October 2021 - By Nina Lantz, Yutaro Seki , Aaron Shapiro
More on the finer points of ARP relief: We detail the recently issued guidance for defined benefit plans to consider going forward
13 October 2021
IRS Notice 2021-57 was just released regarding the temporary relief provisions other than the special financial assistance program provided by the American Rescue Plan Act of 2021 (ARP).
23 September 2021
The 2020 fiscal year Projections Report forecasts the financial condition of the PBGC’s multiemployer insurance program over the next 10 years, and its 2020 Multiemployer Program Quinquennial Report (“5-Year Report”).
16 September 2021 - By Sean Silva, Kathryn Elizabeth Mohr
Learn more on the recently released FAQ and its potential effects on plan sponsors and participants.
23 July 2021 - By Nina Lantz, Yutaro Seki , Aaron Shapiro
Multiemployer Review: We cover the latest guidance issued in July.
09 July 2021
Take note of the eligibility criteria for plans to apply to receive a one-time cash payment to pay all benefits through 2051.
16 March 2021 - By Sean Silva, Michael Halford , Kathryn Elizabeth Mohr
Multiemployer alert: Details on the federal COBRA subsidy.
11 March 2021 - By Nina Lantz, Yutaro Seki , Aaron Shapiro
Multiemployer review: A closer look at the American Rescue Plan Act.
08 March 2021
Multiemployer alert: pension relief passes in the Senate.
04 March 2021 - By Nina Lantz, Yutaro Seki , Aaron Shapiro
Alert: What the Butch Lewis EPPRA means for multiemployer defined benefit plans.
02 March 2021 - By Sean Silva, John R. Botsford, Michael Halford
Multiemployer alert: More guidance on deadline suspensions for COBRA elections, claims, and appeals.
25 February 2021 - By Yutaro Seki
Alert: COVID-19 relief bill introduced Feb. 24 could impact multiemployer pension plans.
17 December 2020 - By Michael Halford , Sean Silva, David Stoddard
Plan sponsors need to consider how to cover the administration of the COVID-19 vaccines for their membership.
17 December 2020 - By David Stoddard, Michael Halford , Sean Silva
This year’s report includes data for 1, 283 plans covering approximately 4.8 million members as of 2018.
14 December 2020
There were a number of highlights of the report related to the agency’s multiemployer program.
17 September 2020
On September 14, the Pension Benefit Guaranty Corporation released its 2019 FY Projections Report.
01 July 2020 - By Casey B. Baldwin, John Rowland
This article provides an overview of the benefit suspension process, identifies considerations for trustees and plan professionals, and shares the lessons learned from previous applications.
09 June 2020 - By Sean Silva, Eric Walters
On April 28, 2020, the Departments of Labor and Treasury and the Internal Revenue Service jointly issued guidance extending certain deadlines related to COBRA continuation coverage.
03 June 2020 - By William Wade
What are the potential penalties if a multiemployer pension plan reaches the end of its funding improvement plan or rehabilitation plan period and falls short of the goals?
22 May 2020 - By Grant Camp, Aaron Shapiro
This alert focuses on the multiemployer provisions in Division D of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.
13 May 2020 - By John Donohue, Tom Carrabine
This article provides an overview of the distribution process and why now may be a good time for trustees to consider moving the defined contribution plans to a daily valued environment.
11 May 2020 - By Joel E. Stewart, Yutaro Seki
This Multiemployer Alert provides a summary of past multiemployer pension funding relief and recent proposals.
30 April 2020 - By Ladd E. Preppernau
Retirement planning is a long-term undertaking, and the consequences of rules and actions may not be known until years, or even decades, after they are implemented.
30 April 2020 - By Ladd E. Preppernau, Grant Camp
A strong understanding of the historical regulatory perspective can serve to inform the discussion on future regulatory changes designed to improve the long-term health of multiemployer pension plans.
12 April 2020 - By Kelly S. Coffing, Timothy L. Connor, Nina Lantz
COVID-19’s impact goes beyond the market decline. Many industries are being hit hard by a sudden drop-off in industry activity, with concern that the recovery of normal operation could take several years, reducing the contributions coming into multiemployer pension plans.
06 April 2020 - By Sean Silva, Reza Vahid
This alert describes Title III (Supporting America’s Health Care System in the Fight Against the Coronavirus), Part II (Access to Healthcare for COVID-19 Patients), Subpart A (Coverage of Testing and Preventive Services), of the CARES Act, which expands upon Division F, Health Provisions, of the Families First Coronavirus Response Act.
23 March 2020 - By Sean Silva, John R. Botsford, Ilina Ingolia
This article contains specific information about what the “Families First Coronavirus Response Act” covers.
23 March 2020 - By Ladd E. Preppernau, Carrie Vaughn
On the heels of the dot-com bust from 2000-2002 and the global financial crisis in 2008, can multiemployer plans survive a third “once-in-a-lifetime” event?
26 November 2019 - By Grant Camp, Ryan Rowland
This alert summarizes key aspects of the proposed Multiemployer Pension Recapitalization and Reform Plan.
22 November 2019 - By Noah Llanda
This alert focuses on the Pension Benefit Guaranty Corporation (PBGC) annual report as it pertains to the PBGC Multiemployer Program.
24 September 2019
The Segal Blend method of determining withdrawal liabilities in multiemployer pension plans was ruled improper in a recent case with the New York Times but it has been upheld in others, leaving the issue open for future challenges.
09 August 2019
The projections report for fiscal year (FY) 2018.has been released by the Pension Benefit Guaranty Corporation (PBGC), with three key takeaways for plan sponsors.
30 July 2019 - By Carrie Vaughn
The determination letter program for certain retirement plans, previously restricted in 2017, will be expanded on September 1, 2019.
24 May 2019 - By Yutaro Seki , Michael A. Sudduth
The Pension Benefit Guaranty Corporation’s final rule issued on May 2 addresses reporting and disclosure requirements for plan sponsors of certain terminated and/or insolvent multiemployer pension plans.
06 March 2019 - By Josh Goodwin, Biljana Guchereau
In February, the Pension Benefit Guaranty Corporation issued a proposed rule to amend and simplify the calculation of withdrawal liability for plans with rehabilitation plans or funding improvement plans that have made certain benefit or contribution changes. This paper provides a detailed review of these proposed rules.
04 February 2019
Many multiemployer pension plans will not be able to pay the full value of promised benefits to future retirees, and additional measures will be needed in order for them to do so.
21 January 2019 - By Sean Silva, David Stoddard
As fiduciaries to health and welfare trusts, trustees must understand the details regarding their stop-loss carrier contracts in order to ensure the trust is receiving the most competitive price while also receiving sufficient protection against large claims in order to maintain sufficient trust assets.
28 June 2010
The pension funding relief provisions of the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 are generally effective the first day of the first plan year ending after August 31, 2008.
05 January 2009
This Multiemployer Alert focuses on the Worker, Retiree, and Employer Recovery Act of 2008 provisions that demand immediate or near-term decisions by multiemployer plan trustees.