Pension Benefit Guaranty Newswire

Pension Benefit Guaranty Newswire

Comprehensive Real-Time News Feed for Pension Benefit Guaranty.

Results 1 - 20 of 134 in Pension Benefit Guaranty

  1. Your pension could be at the center of America's next financial crisisRead the original story w/Photo

    Friday Mar 24 | The Hill

    ... need Social Security, even in an imperfect form, well beyond 2034? There is an organization, the Pension Benefit Guaranty Corporation (PBGC), which is meant to insure pensions against failure. However, it was created in 1974 as part of a host of ...

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  2. Marc Leder's firm ordered to give truckers $8.3M in back pay 0:0Read the original story w/Photo

    Thursday Mar 23 | New York Post

    ... the co-owner of the NBA's Philadelphia 76ers - and for his wild Hamptons parties . In 2011, the Pension Benefit Guaranty Corp. sued Sun after it put its Friendly's Ice Cream restaurant chain into bankruptcy - only to buy it back via a second ...

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  3. Companies tap high-grade bonds to make pension contributionsRead the original story w/Photo

    Thursday Mar 23 | The Times of India

    ... the high-grade market to fund pension deficits at no incremental costs as insurance fees from the Pension Benefit Guaranty Corporation (PBGC) reach similar levels to bond yields. * This comes after the funded ratio of the top 100 corporate defined ...

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  4. Sears' retirees worry about their pensions as the company raises doubts about its futureRead the original story w/Photo

    Wednesday Mar 22 | USA Today

    ... Exchange Commission filing . The company has reached two agreements during the last year with the Pension Benefit Guaranty Corporation , the independent government agency that protects retirement incomes for Americans in private-sector pension plans ...

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  5. Sears annual report notes 'substantial' going-concern doubtRead the original story w/Photo

    Tuesday Mar 21 | Seeking Alpha

    ... pointed to the pension plan protection and forbearance agreement ("PPPFA") that it reached with the Pension Benefit Guaranty Corp. The PBGC consented to Sears' sale of its Craftsman-related assets, which had been "ring-fenced" under the agreement. ...

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  6. New York's Road Carriers Local 707 Pension Fund Goes InsolventRead the original story w/Photo

    Wednesday Mar 15 | Transport Topics

    The Road Carriers Local 707 Pension Fund in Hempstead, New York, has gone insolvent and received protection by the Pension Benefit Guaranty Corp. to issue benefits to retirees. Fund managers applied last year to the Treasury Department to suspend benefits and to PBGC to partition the plan and create a new retirement plan for certain participants, but both applications were denied.

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  7. Sears Commits Chunk of Proceeds From Craftsman Sale to PensionsRead the original story

    Friday Mar 10 | NACD

    As part of a deal it struck with the Pension Benefit Guaranty Corp. , the Wall Street Journal reports that "Sears Holdings Corp. made another move to prop up its cash-draining pension plan" by agreeing to "direct a chunk of proceeds from the sale of its Craftsman brand toward its obligations." PBGC is the federal agency that insures private pension benefits.

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  8. Threatened Pension Cuts Will Test Trump Ties to US Rust Belt VotersRead the original story w/Photo

    Thursday Mar 9 | News Max

    ... plan failures - and help avert a complete draining of the multiemployer insurance reserves of the Pension Benefit Guaranty Corp (PBGC), the federally sponsored agency that backstops private-sector defined benefit pension plans. That was the theory, ...

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  9. Sears Holdings Announces Closing Of Sale Of Craftsman BrandRead the original story

    Thursday Mar 9 | PressReleasePoint

    In addition, the related agreement with the Pension Benefit Guaranty Corporation and certain related transactions. As a condition to obtaining this consent, the Company agreed to grant to the PBGC a lien on, and subsequently contribute to the Company's pension plans, the value of the cash payment payable to the Company on the third anniversary of the Craftsman closing, with the value of such payment being fully credited against certain of the Company's minimum pension funding obligations in 2017, 2018 and 2019.

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  10. COLUMN-Threatened pension cuts will test Trump ties to U.S. Rust Belt votersRead the original story w/Photo

    Aug 22, 2016 | Reuters

    ... plan failures - and help avert a complete draining of the multiemployer insurance reserves of the Pension Benefit Guaranty Corp (PBGC), the federally sponsored agency that backstops private-sector defined benefit pension plans. That was the theory, ...

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  11. Proposed Regulations Update Mortality Tables, Minimum Present Value...Read the original story w/Photo

    Tuesday Mar 7 | JD Supra

    ... the updated mortality tables are expected to increase plan funding liabilities and, by extension, Pension Benefit Guaranty Corporation (PBGC) variable rate premiums, as well as the value of lump sum distributions. Plan sponsors should be aware, ...

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  12. New York Teamsters' Pension Fund Runs Out Of CashRead the original story w/Photo

    Thursday Mar 2 | The Daily Caller

    ... on Long Island, ran out of cash as of February. The union was forced to turn over its fund to the Pension Benefit Guaranty Corporation (PBGC), an independent federal agency, according to the Washington Free Beacon . "We have guys on Long Island who ...

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  13. New York Teamsters Union Goes Belly UpRead the original story w/Photo

    Thursday Mar 2 | News Max

    The New York Teamsters Road Carriers Local 707 Pension Fund reportedly has officially run out of money as the federal insurance company has taken over payments to retirees at a reduced rate. Sadly, the Pension Benefit Guaranty Corp. itself is also running out of cash funds to cover union pensions, its director said Wednesday.

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  14. The FBI Won't Accept Your Emailed FOIA AnymoreRead the original story

    Wednesday Mar 1 | PressReleasePoint

    ... Border Protection, Office of General Counsel of the National Archives and Records Administration, Pension Benefit Guaranty Corporation, Department of the Navy, General Services Administration, Federal Communications Commission, Department of Justice ...

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  15. Federal insurance company low on funds to cover union pensionsRead the original story w/Photo

    Wednesday Mar 1 | New York Daily News

    The clock is ticking for 71 penniless union pension funds that rely on a federal insurance company to support their retirees - because the agency itself is also running out of cash, its director said Wednesday. The Pension Benefit Guaranty Corporation's limited liquidity is part of the spiraling U.S. pension crisis that threatens to wipe out the retirement savings of more than a million Americans.

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  16. PBGC scouting for LDI managers to run billionsRead the original story

    Monday Feb 27 | Pensions & Investments

    Pension Benefit Guaranty Corp. is searching for active fixed-income liability-driven investing managers for its revolving fund and trust fund.

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  17. Hollywood's Union Pension Plans On Sound Financial Footing, Analysis ShowsRead the original story w/Photo

    Monday Feb 27 | Deadline

    ... active participants and 16,372 retirees currently receiving pension benefits. According to the Pension Benefit Guaranty Corporation, which insures private pensions, some 1.5 million Americans are currently receiving PBGC payments because they were ...

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  18. America's retirees worked hard. Washington must protect them.Read the original story w/Photo

    Feb 23, 2017 | The Hill

    ... as the Employee Retirement Income Security Act (ERISA). and they lose the safety net of the federal Pension Benefit Guaranty Corporation (PBGC). De-risked pension annuities also leave retiree assets vulnerable to bankruptcy, litigation and creditor ...

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  19. Will your pension be there when you need it?Read the original story w/Photo

    Feb 20, 2017 | The Washington Post

    Members of the International Brotherhood of Teamsters and supporters rally outside the Capitol in Washington. Millions, including these protesters, are at risk of losing their retirement savings if the Pension Benefit Guaranty Corporation becomes insolvent.

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  20. A&M Expands Its Pension Transaction Capabilities With New Managing DirectorRead the original story

    Feb 14, 2017 | PRWeb

    Leading global professional services firm Alvarez & Marsal continues to expand its Insurance and Risk Advisory Services practice with the addition of John Spencer , who joined as a Managing Director in New York. Mr. Spencer's appointment bolsters A&M's ability to advise clients on complex pension and corporate finance issues, Pension Benefit Guaranty Corporation inquiries, human capital risk matters, labor negotiations and capital markets transactions.

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