The DOL has announced in this notice an extension of deadlines for furnishing required notices or disclosures to plan participants, beneficiaries, and other persons so that plan fiduciaries and plan sponsors have additional time to meet their obligations under Title Read more
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 Read more
On November 20th, two Republican Senators issued a Multiemployer Pension Recapitalization and Reform Plan via a white paper summarizing proposals for the US multiemployer defined-benefit pension system accompanied by a more thorough technical explanation. While we prepare a more thorough Read more
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 Read more
JUST THE FACTS is prepared by First Actuarial Consulting, Inc. for general informational purposes only. It does not offer legal advice and does not claim to give all information regarding any given topic. As always, how these issues affect your Read more
DOL Proposed Rule – Retirement Plan Disclosures Online The U.S. Department of Labor (DOL) announced a proposed rule on October 22, 2019, to permit retirement plan disclosures to be posted online. The proposed rule is in part a response to Read more
On December 16, 2014, President Obama signed a law comprising continuing resolution and omnibus funding provisions for the federal government [“Cromnibus”] that also included the Multiemployer Pension Reform Act of 2014 [“MEPRA14”]. MEPRA14 extends some of the previously sunsetting provisions Read more