PBGC To Provide Special Financial Assistance To Financially Troubled Multiemployer Pension Plans

[Freightmaster1]

We wanted to let you know that PBGC’s Interim Final Rule implementing the Special Financial Assistance provisions of the American Rescue Plan Act is now available on PBGC.gov.





Please use the links below to access the interim final rule and press release.

• Press Release: PBGC to Provide Special Financial Assistance to Financially Troubled Multiemployer Pension Plans
• Interim Final Rule: Special Financial Assistance by PBGC (PDF)

 

[Corrupt Union]

Central states say they will apply in 5 years just before they run out of money to screw Yellow employees.

 

[Kennesaw Kid]

Central states say they will apply in 5 years just before they run out of money to screw Yellow employees.

Oh really now? Where did you find that at? The BLA covers those already near insolvency....CSPF was there years ago and will get the biggest chunk of the money. Had you gone to the pensions meeting heald at Local 728 in Atlanta you would have known your information is ALL wrong....stop trying to stir up a pot that you have no idea what's in it!

 

[Corrupt Union]

Have they done anything good for Yellow?
No you retire before the cuts are posted then they don’t give you a opportunity to go back to work.
I know how they operate just a bunch of Democrats that steal all they can.

 

[dock slug]

Oh really now? Where did you find that at? The BLA covers those already near insolvency....CSPF was there years ago and will get the biggest chunk of the money. Had you gone to the pensions meeting heald at Local 728 in Atlanta you would have known your information is ALL wrong....stop trying to stir up a pot that you have no idea what's in it!

Why do you think cspf will get the biggest chunk of the money?What about funds that have already cut pensions?

 

[Freightmaster1]

Priority Groups​

Priority Group	Plan Descriptions	Target Date Plans May Apply for SFA*	Status
1	Already insolvent or projected to become insolvent before 3/11/2022	7/9/2021	OPEN
2	Implemented MPRA benefit suspensions before 3/11/2021 or expected to be insolvent within one year of the date application was filed**	1/1/2022	CLOSED
3	Greater than 350,000 participants	4/1/2022	CLOSED
4	Projected to become insolvent before 3/11/2023	7/1/2022	CLOSED
5	Projected to become insolvent before 3/11/2026	2/11/2023	CLOSED
6	Present value of financial assistance in excess of $1 billion	2/11/2023	CLOSED

*PBGC has 120 days to review an application. If capacity to process applications exceeds expectations, then the dates to accept applications may be accelerated.
**MPRA plans can restore benefits under 26 CFR 1.432(e)(9)-1(e)(3) at any time, including before applying for SFA.

https://www.pbgc.gov/arp-sfa​

 

[Kennesaw Kid]

Central states say they will apply in 5 years just before they run out of money to screw Yellow employees.

Why do you think cspf will get the biggest chunk of the money?What about funds that have already cut pensions?

Because it is the biggest MEPF about to go solvent. More retirees in that Fund.

 

[Kennesaw Kid]

Have they done anything good for Yellow?
No you retire before the cuts are posted then they don’t give you a opportunity to go back to work.
I know how they operate just a bunch of Democrats that steal all they can.

WOW...I don't know where you got your opinion, but I hope you kept the receipt!

 

[ROADY]

Have they done anything good for Yellow?
No you retire before the cuts are posted then they don’t give you a opportunity to go back to work.
I know how they operate just a bunch of Democrats that steal all they can.

Here we go with the politics. Banned for life do you have a new name?

 

[Hookman]

Here we go with the politics. Banned for life do you have a new name?

He is like a "Sticky Booger" you just can't fling off your finger.

 

[dock slug]

Because it is the biggest MEPF about to go solvent. More retirees in that Fund.

So they filed an application in 2017 that was denied because the Treasury department said cuts in retirees' pensions were not enough so they never refiled and they were just going to let the fund run out of money? Other funds made 29% cuts to save their funds and CSPF should get the biggest chunk of money?! The CSPF may be getting the biggest chunk based on the number of members in the fund; however they never took a cut like the NYS Teamsters Fund did back in 2017. Please do your homework before making statements.

 

[ABF381]

So they filed an application in 2017 that was denied because the Treasury department said cuts in retirees' pensions were not enough so they never refiled and they were just going to let the fund run out of money? Other funds made 29% cuts to save their funds and CSPF should get the biggest chunk of money?! The CSPF may be getting the biggest chunk based on the number of members in the fund; however they never took a cut like the NYS Teamsters Fund did back in 2017. Please do your homework before making statements.

Brother they never refiled because they said the cuts would be so deep they couldn't stay within the law. No need to despair though because help is on the way......please have patience.....unity is a teamster virtue....and no I'm not in central states but I am in your fund.... https://oathkeepers.org/2016/05/rej...reasury-dept-says-not-enough-407000-affected/

 

[Kennesaw Kid]

So they filed an application in 2017 that was denied because the Treasury department said cuts in retirees' pensions were not enough so they never refiled and they were just going to let the fund run out of money? Other funds made 29% cuts to save their funds and CSPF should get the biggest chunk of money?! The CSPF may be getting the biggest chunk based on the number of members in the fund; however they never took a cut like the NYS Teamsters Fund did back in 2017. Please do your homework before making statements.

Na, that ain't what happened with CSPF retirees.

 

[Everydayissat]

Na, that ain't what happened with CSPF retirees.

The new NYS guidelines we were sent today states Jan 1 to apply 90 days for review 120 day’s to be reinstated and up to 5 years for backpay