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Congress s Multiemployer Pension Committee Should Act Now: 12 Reforms to Protect Pensioners and Taxpayers

The Joint Select Committee on Solvency of Multiemployer Pension Plans seeks to resolve $638 billion in unfunded pension benefits by November 30, 2018.REF Over the past decades, about 1,400 multiemployer (union-run) pension plans covering 10.6 m

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How a New PBGC Director Could Help Protect Private Pensioners and Prevent a Taxpayer Bailout

The Pension Benefit Guaranty Corporation is a government entity that provides mandatory insurance to private pension plans. The PBGC’s multiemployer program deficit estimated to be between $65 billion and $101 billion and looming insolvency threatens workers who stand to lose their insured pension benefits, as well as taxpayers who could be forced to pick up the tab.

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How to Protect Pension Beneficiaries without Forcing Taxpayers to Pay for Broken Private-Sector Promises

Once hailed as a bedrock of retirement security, many defined benefit pensions are now on the brink of failure. Some troubled multiemployer (union) pension plans carry debts so large that the government entity tasked with insuring them the Pension Benefit Guaranty Corporation (PBGC) will also soon be insolvent. If troubled pension plans do not take action to increase contributions and curb unsustainable benefits, most pensioners will receive significantly less than their companies promised them.

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Balloon Juice - Tuesday Night Open Thread: In the Short Term, We re Pretty Much Stuck With Manchin

Balloon Juice - Tuesday Night Open Thread: In the Short Term, We re Pretty Much Stuck With Manchin
balloon-juice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from balloon-juice.com Daily Mail and Mail on Sunday newspapers.

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New COVID-19 Stimulus Bill Includes Significant Pension Reforms and Expands Scope of 162(m) Compensation Deduction Limit | Proskauer Rose LLP

To embed, copy and paste the code into your website or blog: Today, the House of Representatives passed the $1.9 trillion American Rescue Plan Act of 2021 (the “ARPA”). The ARPA has already been approved by the Senate and is expected to be quickly signed into law by President Biden. This client alert addresses Title IX, Subtitle H of the new legislation, which includes significant pension reforms for multiemployer and single-employer pension plans, and expands the number of covered employees for the limitation on the deductibility of executive compensation under Section 162(m) of the Tax Code. Multiemployer Pension Reforms Background The multiemployer pension system in the United States is currently in crisis, with over 100 multiemployer pension plans, covering more than one million participants in total, projected to become insolvent within the next 10 to 20 years. The largest and most significant of these plans, the Central States, Southeast and Southwest Areas Pension Fund

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