Sentences with phrase «multiemployer pension»

However, identical bills were introduced in the 114th Congress in both the House and Senate that would limit the use of the like - kind exchange deferral as a way of partially offsetting the cost of provisions that would shore up multiemployer pension plans.

Orrick's ERISA and Benefits Litigation lawyers counsel clients on withdrawal liability exposure in multiemployer pension plans and on the effects of asset sales and corporate transactions on potential withdrawal liability.

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,...

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 pension benefits.

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.

Insured Plan - A pension plan covered by PBGC's Single - Employer Pension Plan Insurance Program or Multiemployer Pension Plan Insurance Program.

Multiemployer Pension Reform Act of 2014 (MPRA)- See Kline - Miller Multiemployer Pension Reform Act of 2014.

Multiemployer Pension Plan Insurance Program - A PBGC insurance program that covers private (non-governmental) multiemployer defined benefit plans.

Multiemployer Guarantee - When a multiemployer pension plan fails, PBGC provides financial assistance in the form of a loan to the plan.

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.

Plan participants in most multiemployer pension plans will not be impacted because their multiemployer pension plans have enough money to be sustainable over the long term.

Plan participants who have questions about the status of their multiemployer pension plan should contact their union or their pension plan directly.

We expect that most plan participants and beneficiaries in multiemployer pension plans will not see their benefits reduced.

If a multiemployer pension plan applies under Kline - Miller, plan participants and beneficiaries will be notified of the application, including an estimate of their reduced benefits.

Now in 2014, Congress passed a law called the Kline - Miller Multiemployer Pension Reform Act of 2014.

After that, those relying on the PBGC for multiemployer pension payments get zero, unless something changes.

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 pension plans.

But the looming collapse of the multiemployer pension system is significant given the sheer number of people affected and the potential for a devastating economic ripple effect: retirees losing the pension checks that keep them afloat and a potential wave of bankruptcies among the companies that once employed those workers.

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.

By its own estimation, its fund to cover multiemployer pensions (which makes up $ 65 billion of the deficit) will be insolvent by 2025.

Not exact matches

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.

Strong investment returns helped lift the average funding level of pension plans by three points, to 88 percent, from 2013 to 2014, according to Segal Consulting, which advises multiemployer trust funds.

See PBGC's Two Pension Insurance Programs: Single - Employer and Multiemployer for more information.

Multiemployer Plan - Generally, a collectively bargained pension plan maintained by more than one unrelated employer, usually within the same or related industries, and one or more labor unions.

Multiemployer plans provide pension portability, allowing participants to accumulate benefits earned for service with different employers throughout their careers.

The Multiemployer Program is separate from PBGC's Single - Employer Pension Plan Insurance Program.