PBGC

PBGC FY 2025 Annual Report Shows Financial Improvement

The Pension Benefit Guaranty Corporation (PBGC) released its Fiscal Year 2025 Annual Report, indicating continued financial improvement in its insurance programs. Both the Single-Employer and Multiemployer programs reported positive net financial positions for the fifth consecutive year.

PBGC FY 2024 Projections Report Shows Improved Insurance Outlook

The Pension Benefit Guaranty Corporation (PBGC) released its Fiscal Year 2024 Projections Report, indicating an improved financial outlook for its Multiemployer and Single-Employer pension insurance programs. The report projects the Multiemployer Program will remain solvent for 40 years, and the Single-Employer Program's net position is expected to grow significantly.

PBGC Approves $868.8M Special Financial Assistance for UNITE HERE Fund

The Pension Benefit Guaranty Corporation (PBGC) has approved $868.8 million in Special Financial Assistance (SFA) for the UNITE HERE Fund. This funding averts insolvency for the plan, which covers over 91,000 hospitality workers, preventing benefit reductions.