Multiemployer Pension Plans Eligible for Special Financial Assistance
The Congressional Research Service (CRS) recently published a report listing multiemployer pensions plans it considers potentially eligible for special financial assistance under the American Rescue Plan Act. CRS based their eligibility criteria on the most recent data available from the Department of Treasury, the Department of Labor, and the Pension Benefit Guaranty Corporation. The most recent available data in some cases came from the 2018 and 2019 plan year, meaning some plans listed may not be eligible based on their financial conditions in 2020 through 2022. Similarly, some plans not listed based off financial data from 2018 or 2019 might become eligible based on financial conditions in 2020 through 2022.
The plans CRS determined eligible begin on page 10.
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This article is very helpful and grateful. Thank you for sharing awesome article. The Internal Revenue Service Friday provided guidance to multiemployer retirement plans that receive special assistance from the Pension Benefit Guaranty Corp.