Seriously Underfunded Multiemployer Defined Benefit Pension Plans—Relief Finally Arrives



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