Sequence or Returns Risk

This first installment in our whitepaper series introduces the foundational challenge facing mature pension plans: negative cash flow. When benefit payments regularly surpass incoming contributions, trustees encounter a structural issue that may affect a plan’s funded status. This paper explores the mechanics of sequence of returns risk – a phenomenon Read more

CARES Act

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) became law. During its assembly, we heard from insiders regarding the possible inclusion of extensive reforms and relief for the US multiemployer defined-benefit system, yet no such provisions appear in the final Act. We will continue Read more

Reporting “Orphaned” Participants on Form 5500

PBGC proposes additional methods for reporting “orphaned” participants on Form 5500 The Pension Benefit Guaranty Corporation (“PBGC”) is proposing changes to how multiemployer defined-benefit pension funds report orphaned participants beginning with Schedules R (Form 5500) for 2020 plan years.  Under current rules, such funds must report the number of participants Read more