The per - participant flat premium rate for plan years beginning in 2018 is $ 74 for single - employer plans (up from a 2017 rate of $ 69) and $ 28
for multiemployer plans (no change from 2017).
Withdrawal Liability (
for Multiemployer Plans only)- The liability assessed by a multiemployer defined benefit plan against an employer that (1) permanently stops contributing to the plan, (2) permanently ceases covered operations under the plan, or (3) under certain circumstances, reduces its contributions to the plan.
For multiemployer plans, see Multiemployer Guarantee.
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 year or years.
See Termination (
for Multiemployer Plans).
For multiemployer plans, a benefit or benefit increase that has been in effect under a plan for less than five years (60 months) is not eligible for PBGC's multiemployer guarantee.
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.
Witnesses
for the Joint Select Committee on Solvency of
Multiemployer Pension Plans said demographics, failing industries and market returns led to the insolvency of multiemployer p
Multiemployer Pension
Plans said demographics, failing industries and market returns led to the insolvency of multiemployer pension p
Plans said demographics, failing industries and market returns led to the insolvency of
multiemployer p
multiemployer pension
plansplans.
Employer insolvencies in an underfunded
multiemployer plan affect all participants, including those working
for solvent firms.
With corporations, the protection of the Pension Benefits Guarantee Corporation [PBGC] has kept pensions safe up to a limit — as of 2016, up to roughly $ 60K / year
for those retiring at age 65 (less
for younger retirees) from single - employer
plans, and $ 12,870 / year at most
for those in
multiemployer plans.
Union miners are among the 10.4 million Americans with retirements tied to
multiemployer pension
plans, the large investment pools considered low risk because they don't rely on a single company
for financing.
See
Multiemployer Plan Insolvency and Benefit Payments and
Multiemployer Benefit Guarantees
for more information.
See
Multiemployer Pension Reform Act of 2014 FAQs,
Multiemployer Plans and Partition, and PBGC Proposes Rule to Facilitate Mergers of
Multiemployer Pension
Plans for more information.
Kline - Miller
Multiemployer Pension Reform Act of 2014 (MPRA)- Under this law, Congress established a new process for multiemployer pension plans to propose a temporary or permanent reduction of pens
Multiemployer Pension Reform Act of 2014 (MPRA)- Under this law, Congress established a new process
for multiemployer pension plans to propose a temporary or permanent reduction of pens
multiemployer pension
plans to propose a temporary or permanent reduction of pension benefits.
Multiemployer plans provide pension portability, allowing participants to accumulate benefits earned
for service with different employers throughout their careers.
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.
In a recent decision, Tsareff v. ManWeb Services, Inc., the Seventh Circuit Court of Appeals again held that an asset purchaser may be liable
for the asset seller's ERISA
multiemployer pension
plan withdrawal liability,...