The Pension Relief Act provides that for the first two years after enactment, applications for special financial assistance may be filed only by the following:
plans that are insolvent or likely to become insolvent within five years of the date of enactment of the Pension Relief Act;
plans that have a present value financial assistance that exceeds $1 billion if special financial assistance is not provided;
plans that received approval under MPRA to suspend benefits; or
plans as otherwise determined by the PBGC.
Author(s): Grace H. Ristuccia, Thomas Vasiljevich
Publication Date: 16 March 2021
Publication Site: National Law Review