Kline-Miller Multiemployer Pension Reform Act of 2014

Solvency is Now Within Reach for Many Multiemployer Pensions, According to New Report from NISA

Retrieved on: 
Friday, December 2, 2022

ST. LOUIS, Dec. 2, 2022 /PRNewswire/ -- NISA Investment Advisors, LLC ("NISA") released a special report to assist multiemployer pension plans in achieving solvency by navigating the labyrinth of changes under the Special Financial Assistance ("SFA") program's Final Rule. As outlined in a prior NISA posting, the SFA provisions of Sec. 9704 of the American Rescue Plan Act of 2021 ("ARPA") provide a lifeline to many multiemployer plans otherwise facing insolvency in the coming decade.

Key Points: 
  • ST. LOUIS, Dec. 2, 2022 /PRNewswire/ -- NISA Investment Advisors, LLC ("NISA") released a special report to assist multiemployer pension plans in achieving solvency by navigating the labyrinth of changes under the Special Financial Assistance ("SFA") program's Final Rule.
  • 9704 of the American Rescue Plan Act of 2021 ("ARPA") provide a lifeline to many multiemployer plans otherwise facing insolvency in the coming decade.
  • The report also demonstrates that knowing how bad an outcome can be in a downside scenario helps identify a better investment strategy for multiemployer pension plans.
  • NISA Investment Advisors, LLC is a registered investment adviser, and manages assets for some of the largest institutional investors in the U.S.

Ironworkers Celebrate First of its Kind Pension Relief

Retrieved on: 
Thursday, May 19, 2022

The International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers (Iron Workers) celebrates the Pension Benefit Guarantee Corporations (PBGC) approval of Special Financial Assistance (SFA) to address the needs of Cleveland Iron Workers Local 17s pension plan.

Key Points: 
  • The International Association of Bridge, Structural, Ornamental and Reinforcing Iron Workers (Iron Workers) celebrates the Pension Benefit Guarantee Corporations (PBGC) approval of Special Financial Assistance (SFA) to address the needs of Cleveland Iron Workers Local 17s pension plan.
  • The Iron Workers Local 17's pension fund covers over 1,900 participants.
  • PBGCs approval of the SFA application enables the Iron Workers Local 17s pension plan to restore benefits suspended under the terms of the Multiemployer Pension Reform Act.
  • This relief is the first of its kind to come to an Iron Workers pension plan.