Sentences with phrase «multiemployer plans provide»
Multiemployer plans provide pension portability, allowing participants to accumulate benefits earned for service with different employers throughout their careers.
https://www.pbgc.gov/ Not exact matches
Senate Minority Leader Charles E. Schumer on Monday named eight senators to the select committees tasked with overhauling the budget and appropriations process as well as providing recommendations for restoring the solvency of multiemployer pension plans.
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Multiemployer Guarantee - When a multiemployer pension plan fails, PBGC provides financial assistance in the form of a loanMultiemployer Guarantee - When a multiemployer pension plan fails, PBGC provides financial assistance in the form of a loanmultiemployer pension plan fails, PBGC provides financial assistance in the form of a loan to the plan.
Notice of Insolvency (for Multiemployer Plans only)- The notice, required by ERISA, that a multiemployer plan must provide to (1) participants, (2) PBGC, and (3) certain other parties, when the plan has, or expects to, run out of money for a plan yMultiemployer Plans only)- The notice, required by ERISA, that a multiemployer plan must provide to (1) participants, (2) PBGC, and (3) certain other parties, when the plan has, or expects to, run out of money for a plan ymultiemployer plan must provide to (1) participants, (2) PBGC, and (3) certain other parties, when the plan has, or expects to, run out of money for a plan year or years.
PBGC provides funds to make up the difference between the plan's assets and the amount needed to make benefit payments up to the statutory limit, referred to as the «multiemployer guarantee limit.»
A multiemployer plan that (i) is not in critical status for a plan year but is projected by the plan actuary to be in critical status in any of the succeeding 5 plan years, and (ii) does not make an election to be in critical status for the plan year, must provide notice of its projected critical status to PBGC.