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PBGC helps 2 New York multiemployer plans
trueThe Pension Benefit Guaranty Corp. is offering financial assistance to two insolvent multiemployer pension plans in New York.
ERISA at 40: Stewards reflect on good, bad
trueReflecting back on ERISA's first 40 years, the people who've administered it say there were some hits and some misses.
PBGC to take over Reichhold pension plan
trueThe PBGC will take over the defined benefit plan of Reichhold Inc., the agency announced Friday.
PBGC to take over James River Coal pension fund
trueThe PBGC will take over the defined benefit plan of James River Coal Co., the agency announced Wednesday.
PBGC proposes requirement for employers to disclose lump-sum offers
trueThe Pension Benefit Guaranty Corp. disclosed that it intends to require employers to report to the agency offers they make to pension fund participants to convert their monthly annuity to a cash lump-sum benefit.
Gotbaum reflects on accomplishments, challenges at PBGC
trueJoshua Gotbaum, who resigned Sept. 2 as director of the Pension Benefit Guaranty Corp., counts building a strong management team and more interaction with constituents among his success stories during his four-year tenure.
Fitch Ratings: Pension liabilities a key measure in distressed companies
trueThe pension liabilities of companies in or near bankruptcy deserve closer attention, said a special report issued Wednesday by Fitch Ratings.
ERISA at 40
trueWhile the Employee Retirement Income Security Act of 1974 benefited millions of people, it did not live up to the “retirement income security” part of its name. Along with praise for what ERISA did accomplish, there are now calls for fixing what it did not.
ERISA architect Nagle praised as intelligent, fair
trueRobert E. Nagle, one of the architects of the Employee Retirement Income Security Act of 1974 who died Aug. 16, is remembered by colleagues as a good, kind, competent man whose knowledge and fairness in the employee benefits field was unmatched.
Lessons learned from ERISA
trueERISA was a farsighted law in many aspects, especially in defining and assigning fiduciary responsibility, including prohibition on conflicts of interests, to those overseeing pension funds. But ERISA in the long term failed to expand defined benefit coverage.
Cox Enterprises ordered to pay $13.9 million to PBGC for News-Journal plan
trueCox Enterprises Inc. will have to give the Pension Benefit Guaranty Corp. $13.9 million to cover the unfunded pension liabilities of News-Journal Corp.
Keeping the PBGC from being the next bailout recipient
trueA series of recently issued reports have addressed various governance and financial challenges facing the Pension Benefit Guaranty Corp. The takeaway from all of them is that unless changes are made in the way the federal pension insurance system is governed and financed, there is a heightened risk ...
Church-plan status under increased scrutiny
trueA growing number of lawsuits and some key court rulings are making it harder for church-affiliated defined benefit plans to be exempt from the Employee Retirement Income Security Act.
Senate committee limits PBGC plant-closing authority
trueThe Pension Benefit Guaranty Corp. would have to use a narrower definition of pension liability rules in cases of corporate shutdowns under legislation approved Wednesday by the Senate Health, Education, Labor and Pensions Committee.
Church pension plan status rejected by U.S. District Court
trueIn one of five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge ruled Tuesday that the pension plan of Dignity Health is covered by ERISA.