The PBGC Special Financial Assistance program for troubled multiemployer plans has ruled on the third plan to apply for bailout money.
According to a PBGC press release:
The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the plan application for the Idaho Signatory Employers-Laborers Pension Plan (Idaho Signatory) in Portland, Ore. The plan covers 682 participants in the construction industry and will receive $13.9 million in special financial assistance, including interest to the expected date of payment to the plan.
Author(s): John Bury
Publication Date: 23 Dec 2021
Publication Site: Burypensions