Pension Benefit Guaranty Corp. – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Aggregate funded percentage of U.S. MEPPs on the decline: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/aggregate-funded-percentage-of-u-s-mepps-on-the-decline-report/ Thu, 09 Mar 2023 17:00:33 +0000 https://www.benefitscanada.com/?p=135148 The aggregate funded percentage of U.S. multi-employer pension plans dropped to 79 per cent in 2022, from 91 per cent in 2021, according to a new report by consulting firm Milliman Inc. It found the decrease was largely the result of significant investment losses during 2022, despite the first wave of special financial assistance funding […]

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]]> Biden releasing nearly US$36BN to aid pensions of union workers https://www.benefitscanada.com/pensions/defined-benefit-pensions/biden-releasing-nearly-us36bn-to-aid-pensions-of-union-workers/ Fri, 09 Dec 2022 14:00:53 +0000 https://www.benefitscanada.com/?p=130967 U.S. President Joe Biden is announcing the infusion of nearly US$36 billion to shore up a financially troubled union pension plan, preventing severe cuts to the retirement incomes of more than 350,000 Teamster workers and retirees across the U.S. The money for the Central States Pension Fund is the largest amount of federal aid provided […]

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]]> Rejected by courts, U.S. retirees take last shot to save pensions https://www.benefitscanada.com/pensions/governance-law/rejected-by-courts-u-s-retirees-take-last-shot-to-save-pensions/ Fri, 29 Jul 2022 13:00:13 +0000 https://www.benefitscanada.com/?p=124868 Dave Muffley thought he had it made when it came to a solid retirement. The Indiana man spent roughly 30 years as a salaried maintenance technician for Delphi Corp. — a subsidiary of General Motors Corp. — and expected to retire with a comfortable income by the time he hit age 62. But when GM […]

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]]> Biden’s Ohio visit spotlights effort to rescue troubled MEPPs https://www.benefitscanada.com/pensions/governance-law/bidens-ohio-visit-spotlights-effort-to-rescue-troubled-mepps/ Fri, 08 Jul 2022 13:00:54 +0000 https://www.benefitscanada.com/?p=123993 Reassuring frustrated blue-collar voters, U.S. President Joe Biden on Wednesday visited Ohio iron workers to highlight federal action to shore up troubled pension funding for millions now on the job or retired — and to make his political case that he’s been a champion for workers in the White House. Biden’s speech at a Cleveland […]

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