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PBGC to take control of hospital pension plan
The PBGC will cover the pension benefits of nearly 800 former employees of the Hospital Center at Orange, after a change in legal status.
PBGC takes over Noble Health Systems pension plan
The PBGC will take over the defined benefit fund of Noble Health Systems Inc., Westfield, Mass., the agency announced Thursday.
PBGC to take over Saint-Gobain Containers pension plan
The PBGC is taking over the pension plan of Saint-Gobain Containers Inc., Muncie, Ind., because it is being sold to a below-investment-grade company, a PBGC spokeswoman confirmed.
Obama budget to cap retirement deductions
The retirement- and investment-related tax proposals in President Barak Obama's fiscal 2014 budget are bargaining chips in the administration's battle with Republicans, Washington insiders say.
PBGC reverses course on 'reportable events' disclosure rule
The Pension Benefit Guaranty Corp. reversed course and proposed a new rule that will exempt as many as 90% of companies from having to disclose “reportable events” such as bankruptcies and mergers.
PBGC takes over Bill Johnson's Restaurants pension fund
The Pension Benefit Guaranty Corp. is taking over a pension fund sponsored by Bill Johnson's Restaurants Inc., a Phoenix-based restaurant chain.
PBGC proposes easing 'reportable event' rule
Reversing course on a controversial rule that would have upped the reporting burden for defined benefit plan sponsors, the Pension Benefit Guaranty Corp. on Wednesday proposed a new rule that will exempt as many as 90% of companies from having to disclose “reportable events” such as bankruptcies ...
Is PBGC a better trustee?
When a company is in bankruptcy or facing financial hardship, at some point it might have to face the question of whether to terminate its defined benefit pension plans. This is a difficult decision, and hard as a plan sponsor tries, termination might turn out to be the only option.
PBGC to take over two plans from auto parts supplier Metavation
Pension Benefit Guaranty Corp. will take over two defined benefit pension plans of auto parts supplier Metavation LLC as the company parent Revstone Transportation LLC sells its interest, agency officials announced Friday.
NCCMP report argues for "fundamental restructuring" of multiemployer plans
The U.S. multiemployer defined benefit pension system needs fundamental restructuring but it should come from the private sector, not government, argues a new report issued Tuesday by the National Coordinating Committee for Multiemployer Plans, Washington.
PBGC takes over Findlay Industries plan
The PBGC has taken over the pension fund of Findlay Industries, the agency announced Monday.
PBCG multiemployer pension plan reports raise alarms on underfunding
The Pension Benefit Guaranty Corp. raised alarms about the viability of the multiemployer defined benefit pension system in the U.S. when it sent three long-awaited reports to Congress on Jan. 29.
PBGC to take over 2 Hawker Beechcraft pension plans
Pension Benefit Guaranty Corp. will assume benefit payments for two pension plans for salaried employees at Hawker Beechcraft Inc., Wichita, Kan., according to a news release from the PBGC.
PBGC reports lead to calls for multiemployer pension reform
Three reports by the Pension Benefit Guaranty Corp. on the financial health of multiemployer defined benefit pension plans are raising calls from Capitol Hill for possible reforms to prevent plan closings and increased PBGC deficits.
PBGC sues Renco Group over RG Steel pension obligations
Pension Benefit Guaranty Corp. is suing holding company The Renco Group for alleged misrepresentations before the agency's takeover of two RG Steel LLC pension plans in which the company had a controlling interest.