Right now on the American Rescue Plan (ARP) website:
Status of Applications [.xls] – Coming Soon
Until those spreadsheets start popping up we have no clue as to why, by whom, and how these bailout applications are being made but, before seeing any numbers, one thing bothers me.
A footnote on that ARP website reads:
**MPRA plans can restore benefits under 26 CFR 1.432(e)(9)-1(e)(3) at any time, including before applying for SFA.
So why aren’t plan participants like Carol Podesta-Smallen in the MarketWatch story not having their monthly pension amounts restored to pre-MPRA levels and getting large checks to make up for past reductions? It would reduce asset values in those plans but isn’t that a good thing when applying for bailout money?
Author(s): John Bury
Publication Date: 31 August 2021
Publication Site: burypensions