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Benefits Counselor – October 2022 - Retirement, Superannuation & Pensions

The Internal Revenue Service (IRS) has extended the deadline for amending eligible retirement plans to reflect provisions relating to plan loans and coronavirus‑related distributions under the Coronavirus Aid. ....

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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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PBGC Releases FY 2021 Projections Report | PressReleasePoint

WASHINGTON, D.C. – The Pension Benefit Guaranty Corporation (PBGC) today released the agency’s Fiscal Year (FY) 2021 Projections Report . ....

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Republicans question how pension funding in stimulus is pandemic aid

Republicans disagree, saying pension funding has nothing to do with pandemic relief.
Pension plans were at risk prior to COVID-19, and the aid will help around 10 million Americans.
President Joe Biden s $1.9 trillion stimulus plan passed the House on Wednesday, setting it up to become law this week, but where the money in the bill is going remains controversial. One of the controversial recipients: pension plans.
Democrats included $86 billion in direct aid for pension funds in the stimulus bill, which will help the 10.7 million active and retired workers who fall under multiemployer pension plans, and lawmakers say doing so is a necessary component of pandemic relief. ....

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The stimulus includes money to help 10.7 million pension plans. Republicans don't see how that's pandemic aid.

The stimulus includes money to help 10.7 million pension plans. Republicans don t see how that s pandemic aid.
[email protected] (Ayelet Sheffey)
Biden s stimulus bill includes $86 billion in pension funding, which Democrats say is necessary.
Republicans disagree, saying pension funding has nothing to do with pandemic relief.
Pension plans were at risk prior to COVID-19, and the aid will help around 10 million Americans.
President Joe Biden s $1.9 trillion stimulus plan passed the House on Wednesday, setting it up to become law this week, but where the money in the bill is going remains controversial. One of the controversial recipients: pension plans.
Democrats included $86 billion in direct aid for pension funds in the stimulus bill, which will help the 10.7 million active and retired workers who fall under multiemployer pension plans, and lawmakers say doing so is a necessary component of pandemic relief. ....

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