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PBGC to Administer $94 Billion in Financial Assistance to Multiemployer Pension Plans

PBGC to Administer $94 Billion in Financial Assistance to Multiemployer Pension Plans

Multiemployer pension plans are back in the news following enactment of The American Rescue Plan (ARP) Act of 2021 on March 11, 2021. The Rescue Plan creates approximately $94 billion in funding for more than 200 eligible multiemployer pension plans that are severely underfunded. The Pension Benefit Guaranty Corporation (PBGC) announced a new Special Financial …

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