Plan administrators seeking a standard termination of a defined benefit pension plan must comply with very specific Employee Retirement Income Security Act (ERISA) rules and Pension Benefit Guaranty Corporation (PBGC)...more
On Sept. 15, the Pension Benefit Guaranty Corporation (PBGC) issued a technical update providing interim guidance under its final rule on reportable events for defined benefit pension plans and their sponsors.
This...more
In a victory for religiously affiliated hospitals sponsoring defined benefit (DB) plans, the U.S. Supreme Court ruled on June 5 that such plans need not have been originally established by churches to be exempt from ERISA....more
On Sept. 25, 2015, the Central States, Southeast and Southwest Areas Pension Plan (Central States), submitted to the Department of the Treasury a plan for reducing benefits under the Multiemployer Pension Reform Act of 2014...more
10/9/2015
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Earlier this month, the Pension Benefit Guaranty Corporation (PBGC) issued final regulations on reportable events under ERISA in connection with defined benefit pension plans and their sponsors (the Final Regulations). The...more
Earlier this week, the Internal Revenue Service (IRS) issued proposed and temporary regulations (collectively, the Guidance) under the Multiemployer Pension Reform Act of 2014 (MPRA). As discussed in an earlier WorkCite...more
Yesterday the Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) issued temporary, proposed and interim final regulations and a revenue procedure (collectively, the Guidance) under the...more
The Consolidated and Further Continuing Appropriations Act, 2015 (the so-called “Cromnibus Act”), enacted into law last week, is not just a $1.1 trillion spending bill that keeps most of the federal government open through...more