Seriously Underfunded Multiemployer Defined Benefit Pension Plans—Relief Finally Arrives

Link: https://www.natlawreview.com/article/seriously-underfunded-multiemployer-defined-benefit-pension-plans-relief-finally

Excerpt:

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