Headlines about "Multiemployer plans"

Gathered from the web by the editors at BenefitsLink.com.
DOL's New Rule Governing Information About Union Trusts
Excerpt: "The U.S. Department of Labor's Office of Labor-Management Standards (OLMS) today posted at www.olms.dol.gov a final rule that enhances financial reporting and provides union members with more complete information about finances held in union trusts. The final rule, issued under the authority of the Labor-Management Reporting and Disclosure Act of 1959 (LMRDA), further implements the LMRDA goal of securing the right of labor union members to have meaningful information about union finances and expenditures." (Workplace Prof Blog)

[Guidance Overview] Does Green Mean Go? Trustee Decision-Making in the Post-PPA '06 Era (PDF)
Excerpt: "The NewsLetter reviews the development of pension funding guidelines over time and how Segal recommends plan sponsors approach long-term funding with the advent of the Pension Protection Act of 2006 . . . ." (The Segal Group, Inc.)

Novel Charges Stand Against Lawyer in Benefits Fraud Case
Excerpt: "A federal judge has upheld novel employee-benefits fraud charges against a lawyer, calling his argument for dismissal 'provocative' but 'fatally flawed.' Prosecutors from the Eastern District of New York U.S. Attorney's Office obtained the indictment of Steven Coren of Coren & Associates last year on charges that he helped clients divert for their own use money supposedly set aside for employee benefits." (Law.com)

[Guidance Overview] Defining the Scope of Discovery in the Administrative Law Setting
Sara Lee Corp. v. Am. Bakers Ass'n. Excerpt: "The magistrate judge in this recent opinion addressed the distinction between supplementation of the administrative record and consideration of evidence outside the administrative record. The two categories may seem similar but the burden of proof is quite different." (Health Plan Law blog by Attorney Roy F. Harmon III)

Volatility Creates Challenges for Multiemployer Trustees, Survey Says
Excerpt: "Nearly two-thirds (64%) of the trustees said that decreasing volatility in the investment portfolio while maintaining current returns was a higher priority than increasing investment returns while maintaining current volatility. Recent market performance has caused trustees to seek methods to budget for short-term market volatility. An increase in investment diversification is one means of addressing the volatility of the assets and the plan impact that follows." (Wolters Kluwer)

Union vs. Private Pension Plans: How Secure Are Union Members' Retirements? (PDF)
44 pages. Excerpt: "[Collectively bargained pension plans] perform quite poorly relative to plans sponsored unilaterally by employers for non-union employees. The disparity raises this question: are union members getting as good a deal in their retirement funding as they might? Or, to put it another way, do collective bargaining contracts lack provisions for the funding necessary to generate the generous retirement income that unions advertise?" (Hudson Institute)

Practitioners Criticize Proposed Rules on Multiemployer Plans in Critical Status
Excerpt: "Witnesses at a July 31, 2008 hearing expressed dissatisfaction with recent IRS proposed regulations implementing provisions of the Pension Protection Act of 2006 (PPA; P.L. 109-280) affecting multiemployer plans . . . . The proposed regulations, issued in March 2008, implement Code Sec. 432 for multiemployer plans that are endangered or in critical status." (Wolters Kluwer)

Clarification Urged for Proposed Relaxed Retirement Plan Amendment Notice Rules
Excerpt: "According to Judith Mazo, on behalf of the National Coordinating Committee for Multiemployer Plans (NCCMP), and Kent Mason, representing the American Benefits Council, the regulations could be clearer on two counts: (1) the operation of the duplicative notice prevention rules for underfunded individual plan amendments; and (2) the duration of the 30-day notification rule for underfunded multiemployer plan amendments that reduce benefits." (Wolters Kluwer)

[Opinion] Service Employees International Union National Industry Pension Plan Only 75% Funded in 2006
Excerpt: "Some of this might be the result of poor investment performance, but the main problem is that the SEIU hasn't negotiated adequate employer contributions to the plans. This is a common practice: Unions and management take credit for bargaining deals that promise generous retirement benefits, even as they ignore how they'll be funded." (The Wall Street Journal)

[Guidance Overview] IRS Issues Minimum Required Contribution Rules for Defined Benefit Plans (PDF)
5 pages. Excerpt: "WHO'S AFFECTED These developments affect sponsors of qualified single-employer, multiple employer and multiemployer defined benefit plans. They do not affect governmental plans or church plans that do not elect to be covered by ERISA ('non-electing church plans')." (Prudential Retirement)

Hearing on Multiemployer Plan Funding Proposed Regs Announced
Excerpt: "The IRS has announced that a public hearing will be held on July 31, 2008 in Washington, DC regarding proposed regulations, issued pursuant to the Pension Protection Act of 2006 (PPA; P.L. 109-280) and effective for plan years beginning after 2007, for multiemployer defined benefit plans that are in endangered or critical underfunded status . . . ." (Wolters Kluwer)

Segal Medicare Part D Survey of Multiemployer Health Funds (PDF)
2 pages. Excerpt: "The survey found that most multiemployer health funds continue to take the Retiree Drug Subsidy (RDS). We expect that will change in the coming years as RDS administration becomes increasingly challenging for plan sponsors." (The Segal Group, Inc.)

U.S. Chamber Sparks DOL Restraint on Union Pension Fund Abuse
Excerpt: "The U.S. Chamber of Commerce obtained an Advisory Opinion Letter from the U.S. Department of Labor's Employee Benefits Standards Administration (EBSA) restraining unions from leveraging their pension funds to pressure employers." (The FINANCIAL)

[Guidance Overview] IRS, DOL and PBGC Propose Guidance on PPA Changes for Multiemployer Plans (PDF)
7 pages. Excerpt: "The Pension Protection Act of 2006 included many provisions that significantly impact multiemployer pension funds. Three federal agencies have recently released guidance to help these funds comply with some of the PPA provisions as well as clarify other issues." (Buck Consultants)

[Guidance Overview] Federal Agencies Provide Guidance Affecting Multiemployer Defined Benefit Pension Plans (PDF)
6 pages. Excerpt: "The Pension Protection Act of 2006 (PPA) established new funding requirements for multiemployer defined benefit pension plans covered by ERISA. PPA also created additional funding rules for underfunded plans that are in endangered or critical status. The IRS recently issued proposed regulations that provide guidance to multiemployer plans in determining whether they are in endangered or critical status." (Prudential Retirement)

[Opinion] Comments on Proposed Regulations Relating to Multiemployer Plan Funding (PDF)
5 pages. Excerpt: "This letter is submitted on behalf of the American Benefits Council, the U.S. Chamber of Commerce, and the Food Marketing Institute to provide comments on the proposed regulations issued by the IRS on March 18, 2008 under Section 432 of the Internal Revenue Code (the 'Code'), relating to multiemployer plans in endangered or critical status." (American Benefits Council)

[Guidance Overview] PBGC Issues Final Premium Payment Guidance (PDF)
Excerpt: "These developments affect sponsors of qualified defined benefit plans that are subject to PBGC premium requirements, including cash balance plans and multiemployer plans. Governmental plans and plans sponsored by churches that do not elect to be covered by ERISA ('non-electing church plans') are not subject to these rules." (Prudential Retirement)

[Guidance Overview] Trustees in United Kingdom Given Greater Oversight of Multiemployer Pension Plans (PDF)
2 pages. Excerpt: "Trustee boards of U.K. multiemployer defined benefit (DB) pension plans have been given more power over financial arrangements when an employer leaves the plan. Revised (amending) regulations that took effect April 6, 2008 are intended to ensure that departing employers do not avoid their pension liabilities, while at the same time enabling more flexible arrangements when the company is involved in a merger or other type of corporate transaction." (Towers Perrin)

[Guidance Overview] Pension Plan Funding Notices and Delinquent Plan Contributions (PDF)
2 pages. Excerpt: "The current economic downturn is likely to expand the ranks of underfunded multiemployer (union) pension plans, and cause more employers to fall behind in making required contributions to their pension and welfare plans. Employers -- and their creditors -- should be aware of governmental responses to these problems; they could impose significant financial responsibilities on plan sponsors, contributing employers, and plan fiduciaries." (Paul, Hastings, Janofsky & Walker LLP)

[Guidance Overview] IRS Updates Staggered Remedial Amendment Cycle Process (PDF)
6 pages. Excerpt: "This information applies to qualified defined benefit and defined contribution plans, including multiemployer plans, governmental plans and non-electing church plans. Currently, it does not apply to ERISA 403(b) plans, non-ERISA 403(b) programs, or section 457(b) plans." (Prudential's Pension Analyst)

[Guidance Overview] Trustees Given Greater Oversight of United Kingdom Multiemployer Pension Plans (PDF)
2 pages. Excerpt: "Trustee boards of U.K. multiemployer defined benefit (DB) pension plans have been given more power over financialarrangements when an employer leaves the plan. Revised (amending) regulations that took effect April 6, 2008 areintended to ensure that departing employers do not avoid their pension liabilities, while at the same time enabling moreflexible arrangements when the company is involved in a merger or other type of corporate transaction." (Towers Perrin)

Court Upholds DOL Reporting Requirements on Employer Payments to Unions
Excerpt: "According to a Department of Labor (DOL) press release, on May 5, the U.S. District Court for the Northern District of Georgia dismissed a challenge to the DOL's authority to require reports from attorneys who make payments to unions or union officials. The Labor-Management Reporting and Disclosure Act (LMRDA) requires employers to file reports if, among other things, they provide money or other things of value to a union or a union officer or employee." (International Foundation of Employee Benefit Plans)

[Opinion] NCCMP Comments to DOL Proposed Regulation on Form T-1 (PDF)
33 pages. Excerpt: "[The] latest effort to establish a Form T-1, in large part, fails to take into account the predominant role of ERISA in establishing rigorous reporting and disclosure requirements on all employee benefit plans. More troubling still, the [Notice of Proposed Rulemaking, or 'NPRM'] exhibits little understanding of the body of employee benefits law that has developed since 1974 that has drastically altered the regulatory framework governing employee benefit plans. Finally, nowhere in the NPRM will one find any analysis that would indicate a nexus between the financial affairs of ERISA plans and circumvention or evasion of reporting requirements under the LMRDA." (National Coordinating Committee for Multiemployer Plans)

[Guidance Overview] DOL Seeks More Union Disclosure
Excerpt: "The proposed financial regulations would require unions to itemize benefits and indirect reimbursements, as well as increase the filing requirements of smaller unions. Some confidentiality provisions would also be affected. " (Human Resource Executive Online)

Spring 2008 Regulatory Agendas Released by PBGC, IRS and EBSA
Excerpt: "Among the items in the PBGC's proposed rule stage are: . . . . Among the items in the IRS proposed rule stage are: . . . . The prerule and final rule EBSA agenda items are: . . . ." (Wolters Kluwer)

[Opinion] Text of International Foundation of Employee Benefit Plans' Comments to DOL on Proposed Form T-1 (PDF)
16 pages; submitted May 5, 2008. Excerpt: "The purpose of this submission is to identify for [the Office of Labor-Management Standards] significant points which support the reinstatement of the exclusion contained in prior T-1 regulations whereby information for Trust Funds covered by ERISA and [that are required to] file Form 5500 need not be reported on the T-1 Form." (International Foundation of Employee Benefit Plans)

[Guidance Overview] IRS Issues Plan Valuation Regulations For Single-Employer Defined Benefit Plans (PDF)
6 pages. Excerpt: "This Pension Analyst discusses the new funding requirements that apply to single-employer and multiple employer defined benefit plans in an effort to help plan sponsors determine the future actions needed to keep their plans in compliance with ERISA and the Internal Revenue Code." (Prudential's Pension Analyst)

[Guidance Overview] DOL's Proposed Form T–1 Would Require Detailed Financial Reporting for Most Union-Negotiated Benefit Plans (PDF)
Pages 3-7 of 10 pages. Excerpt: "The Form T–1 annual report would be in addition to, not in lieu of, a Form 5500. However, unlike the Form 5500, which must be prepared and filed by the employee benefit plan itself, Form T–1 must be prepared and filed by each labor union whose members are plan participants provided that union has annual revenues of $250,000 or more." (Trucker Huss)

[Guidance Overview] Section 403(b) Plans for Tax-Exempt Employers - the Collective Bargaining Dilemma
Excerpt: "The 403(b) Regulations repeal a nondiscrimination safe harbor which was made available under Notice 89-23 to provide temporary relief with respect to the imposition of the qualified retirement plan nondiscrimination rules on all employer contributions (other than elective deferrals) and after tax contributions to 403(b) plans. As a result of such repeal, 403(b) plans will now be fully subject to minimum coverage testing under §410(b) and employer contributions to them will be subject to testing under §401(a)(4), or in the case of employer matching contributions, §401(m)." (Tax Management Inc.)

The Teamsters Central States, Southeast and Southwest Areas Pension Fund, Rosemont, in 'Critical Status'
Excerpt: "Central States officials informed the Treasury Department that the plan 'has funding or liquidity problems, or both,' Thomas C. Nyhan, the fund's executive director, said in a notice to participants. The Internal Revenue Service, which is under Treasury, administers plan funding rules. Under a 'rehabilitation plan,' the fund plans to eliminate early retirement benefits, disability benefits and other so-called adjustable benefits for participants who work for employers in the multiemployer fund that have not agreed to a recent 8% annual increase in contributions, Mr. Nyhan said in the notice. The law allows for such changes of a pension plan in critical status, he added." (Pensions & Investments)

[Guidance Overview] Proposed Model Cutback Notice for Workers in Multiemployer Plans
Excerpt: "The U.S. Department of Labor's Employee Benefits Security Administration has proposed a model notice [PDF] that will be sent to workers in multiemployer plans whose pensions may be reduced because their pension plan is severely underfunded." (Pension Rights Center)

[Guidance Overview] Multiemployer Health Plans Must Be Vigilant About HIPAA Security Compliance
Excerpt: "Health plan sponsors should first review and complete all the appropriate remediation steps outlined in their initial HIPAA security risk assessment. The purpose of that initial assessment was to set out a roadmap towards compliance. As a result, if any action items are outstanding, the plan sponsor should address those security gaps immediately." (The Segal Group, Inc.)

[Guidance Overview] Multiemployer Bulletin on FMLA Amendments (PDF)
Excerpt: "Multiemployer plan sponsors should review their FMLA policies, plan provisions and employer reporting rules to assure that the policies accurately reflect the needs of the plan with respect to FMLA implementation." (The Segal Group, Inc.)

[Guidance Overview] CRS Report for Congress: Summary of the Employee Retirement Income Security Act (ERISA) (PDF)
76 pages; April 10, 2008. Excerpt: "The Employee Retirement Income Security Act of 1974 (ERISA) provides a comprehensive federal scheme for the regulation of employee pension and welfare benefit plans offered by employers. ERISA contains various provisions intended to protect the rights of plan participants and beneficiaries in employee benefit plans. These protections include requirements relating to reporting and disclosure, participation, vesting, and benefit accrual, as well as plan funding. ERISA also regulates the responsibilities of plan fiduciaries and other issues regarding plan administration. ERISA contains various standards that a plan must meet in order to receive favorable tax treatment, and also governs plan termination. This report provides background on the pension laws prior to ERISA, discusses various types of employee benefit plans governed by ERISA, provides an overview of ERISA's requirements, and includes a glossary of commonly used terms." (Congressional Research Service, U.S. Library of Congress)

[Guidance Overview] Abstract: How Key Changes to the Federal Family & Medical Leave Act Affect Multiemployer Plans
Excerpt: "Multiemployer plans could be required to maintain health benefits for up to 26 weeks in some circumstances. The Act does not contain any new provisions relating to how multiemployer plans provide health benefits during FMLA leave. The FMLA regulations allow multi-employer plan sponsors to decide how to pay for FMLA health benefits - through either contributions for the individual employee or pooled contributions." (The Segal Group, Inc.)

[Guidance Overview] New Multiemployer Pension Plan Funding Rules Begin Impacting Employers in April 2008
Excerpt: "Employers that contribute to a multiemployer pension plan should watch the mail for an important new notice that the plan's trustees will send if the plan's funded status is low enough to be considered 'endangered' or 'critical.' The notice is required by the Pension Protection Act of 2006 (PPA), 26 U.S.C. §432 and 29 U.S.C. §305, as supplemented by regulations the United States Department of Labor (DOL) proposed in late March, 2008, 73 Fed. Reg. 14417 and 15688. This e-alert briefly explains why the notice is being sent and the new obligations that the PPA imposes on employers, unions, and trustees who are involved with multiemployer pension plans in 'endangered' or 'critical' status." (Buchanan Ingersoll & Rooney PC)

[Official Guidance] Minor Technical Correction to Proposed IRS Regs on Multiemployer Plan Funding Issued March 18, 2008
Excerpt: "[T]he language 'Section 1.432-1 provides general' is corrected to read 'Section 1.432(a)-1 provides general'." (Internal Revenue Service)

[Guidance Overview] End of First Quarter Triggers Issuance of Multiemployer Pension Plan Notices Pursuant to the Pension Protection Act (PDF)
2 pages. Excerpt: "For any plan operating on a calendar year basis, its actuary by now should have certified whether the plan is critical or endangered. Many participating employers have started to receive their certification notices, and more should come throughout the month. Given the interest in this area, many plans that have been certified in the 'green' -- neither endangered nor critical -- also are issuing notices declaring their status." (Seyfarth Shaw LLP)

[Guidance Overview] PBGC Proposed Regulations on Multiemployer Plans' Employer Withdrawal Liability (PDF)
4 pages. Excerpt: "The proposed regulations, which primarily reflect statutory changes made by the Pension Protection Act of 2006 (PPA), address (1) the PPA's new 'fresh start' rule, (2) mandated adjustments to the withdrawal liability calculation for multiemployer plans that are in 'critical status,' (3) the PPA's limited exception that allows an employer to delay making withdrawal liability payments until a final decision is rendered by a court or arbitrator, and (4) the allocation of a plan's total unfunded vested benefits (UVBs) among employers in a mass withdrawal." (Seyfarth Shaw LLP)

[Guidance Overview] PBGC Proposed Regs Address Reallocation Liability Upon Mass Withdrawal
Excerpt: "The proposed regulations clarify that for each modification to the withdrawal liability method discussed in the rule, a plan's unfunded vested benefits, determined with respect to plan years ending after the plan year designated in the plan amendment, are reduced by the value of the outstanding claims for withdrawal liability that can reasonably be expected to be collected for employers who withdrew from the plan on or before the designated plan year." (Wolters Kluwer)

[Guidance Overview] PBGC Proposed Amendments to Withdrawal Liability Regulations
Excerpt: "This Compliance Alert summarizes the highlights of the proposed amendments, which would generally be effective for withdrawals occurring after these proposed regulations are adopted in final form, except where they implement a PPA'06 change for which the law prescribes a different effective date." (The Segal Group, Inc.)

[Guidance Overview] Overview for Participants: Benefit Cutbacks in Multiemployer Plans
Excerpt: "The Pension Protection Act of 2006 permits certain underfunded multiemployer plans to eliminate subsidized early retirement, subsidized joint and survivor, lump sum and other benefits. . . . Prior to the PPA, plans could only change the rules for the future. Workers could still count on getting the portion of the 'subsidized' benefits earned up until the rule changed as long as they met the requirements for these benefits after the rules were changed. Under the PPA, multiemployer plans that are significantly underfunded are given an exception to the anti-cutback rule's protection for already-earned subsidized early retirement and survivors benefits." (Pension Rights Center)

Fact Sheet on Benefit Cutbacks in Multiemployer Plans
Excerpt: "Under the PPA, multiemployer plans that are significantly underfunded are given an exception to the anti-cutback rule's protection for already-earned subsidized early retirement and survivors benefits. If certain procedures are followed, plans in 'critical status', can eliminate the entire subsidized early retirement benefit (and/or subsidized survivors benefits) for workers who have not yet retired. Workers will still get all earned benefits if they wait to collect the pension until normal retirement age, usually age 62 or 65, but the pension will be reduced (typically by 6 percent a year) if collected at an earlier retirement age." (Pension Rights Center)

[Guidance Overview] EBSA Model Notice for Multiemployer Plans in Critical Status
Excerpt: "The Employee Benefits Security Administration (EBSA) has issued a proposed regulation providing a model notice for use by multiemployer defined benefit pension plans to notify plan participants and others that their plan is in critical funding status and of the possibility that adjustable benefits may be reduced or eliminated." (Wolters Kluwer)

[Guidance Overview] Chart of New Multiemployer Plan Disclosures and Communications Required by Pension Protection Act of 2006 (PDF)
1 page. Excerpt: "The Pension Protection Act of 2006 (PPA) requires multiemployer pension plans to make a number of significant new disclosures to plan participants and beneficiaries, employee representatives, unions, employers, and regulators such as the IRS, the Department of Labor (DOL), and the PBGC. This 2008 Disclosure and Communications Calendar can help you get these important new notices out on time and on target." (Milliman)

[Guidance Overview] New Multiemployer Plan Disclosure Requirements - ERISA Section 101(k) (PDF)
Pages 5-7 of 8 pages. Excerpt: "If they haven't done so already, multiemployer pension plan administrators should start gathering actuarial and financial reports prepared for their plans in prior years so they can respond quickly to requests for such information pursuant to a new provision that became effective on January 1, 2008 for calendar year plans." (Trucker Huss)

[Official Guidance] Text of Model Notice of Critical Status for Multiemployer Plans (PDF)
7 pages. Excerpt: "[T]he Pension Protection Act of 2006 . . . amended [ERISA] by adding section 305, and . . . the Internal Revenue Code . . . by adding section 432, to provide additional rules for multiemployer defined benefit pension plans in endangered status or critical status. . . . Use of the model notice is not mandatory. However, the plan sponsor of a plan in critical status who uses the model notice to notify participants and others of the status of the plan is considered to have satisfied its content obligations under section 305(b)(3)(D) of ERISA and section 432(b)(3)(D) of the Code." (Employee Benefits Security Administration, U.S. Department of Labor)

[Guidance Overview] IRS Proposed Regs Under PPA for Endangered Multiemployer DB Plans
Excerpt: "Code Sec. 432 generally provides for a determination by the enrolled actuary for a multiemployer plan as to whether the plan is in endangered status or in critical status for a plan year. In the first year that the actuary certifies that the plan is in endangered status, Code Sec. 432(a)(1) requires that the plan sponsor adopt a funding improvement plan. If a multiemployer plan is in critical status, the plan sponsor must adopt a rehabilitation plan." (Wolters Kluwer)

[Guidance Overview] IRS Proposes Regulations for Financially Challenged Multiemployer Defined Benefit Plans
Excerpt: "On March 14, 2008, the Internal Revenue Service (IRS) released proposed regulations, Treasury Regulation sections 1.432(a)-1 and 1.432(b)-1,1 which cover the basic requirements for certifying that a multiemployer defined benefit pension plan is in either endangered or critical status. Once adopted in final form, the regulations are proposed to be effective as of the start of the 2008 plan year, which would be a retroactive effective date for most plans." (The Segal Group, Inc.)

[Official Guidance] Text of Proposed PBGC Regs on Withdrawal Liability Changes Under PPA '06 (PDF)
Excerpt: "This proposed rule amends PBGC's regulation on Allocating Unfunded Vested Benefits to Withdrawing Employers . . . to implement provisions of the Pension Protection Act of 2006 . . . that provide for changes in the allocation of unfunded vested benefits to withdrawing employers from a multiemployer pension plan, and that require adjustments in determining an employer's withdrawal liability when a multiemployer plan is in critical status. . . . [T]he proposed rule would also amend this regulation to provide additional modifications to the statutory methods for determining an employer's allocable share of unfunded vested benefits. In addition . . . this proposed rule would amend PBGC's regulation on Notice, Collection, and Redetermination of Withdrawal Liability . . . to improve the process of fully allocating a plan's total unfunded vested benefits among all liable employers in a mass withdrawal." (Pension Benefit Guaranty Corporation)

Summary Report of Results from Segal Company's 2007 Survey of Withdrawal Liability Funded Ratios for the Multiemployer Market (PDF)
4 pages. Excerpt: "The survey found that the steady increase in the average withdrawal liability funded ratio of multiemployer pension plans, which began in 2005, has accelerated. It also found that a higher number of plans were 100 percent funded for their vested benefits." (The Segal Group, Inc.)

[Official Guidance] Proposed IRS Regs: Multiemployer Pension Plan Funding Guidance Under Code Sec. 432 (PDF)
10 pages. Excerpt: "These proposed regulations affect sponsors and administrators of, and participants in multiemployer plans that are in either endangered or critical status. These regulations are necessary to implement the new rules set forth in section 432 that are effective for plan years beginning after 2007. The proposed regulations reflect changes made by the Pension Protection Act of 2006. . . . Section 432 generally provides for a determination by the enrolled actuary for a multiemployer plan as to whether the plan is in endangered status or in critical status for a plan year." (Internal Revenue Service)

[Guidance Overview] Proposed Regs Regarding Determination of Multiemployer Plan Status Under New Funding Rules
Excerpt: "The IRS has issued proposed regulations under Code Sec. 432 regarding the determination of whether a multiemployer plan is in endangered status or critical status for purposes of the new funding rules enacted by the Pension Protection Act of 2006 (PPA '06) (P.L. 109-280). The IRS must receive comments and hearing requests by June 16, 2008." (CCH Incorporated)

[Guidance Overview] Multiemployer Funding Rules After PPA (PDF)
Pages 4, 8 of 8 pages. Excerpt: "[T]he PPA created a new playing field for funding multiemployer defined benefit plans. While the traditional credit balance and funding standard account still exist and the actuary still has significant control over the assumptions, the PPA introduced many changes to funding rules effective for plan years beginning after 2007. Though a separate set of special funding rules applies to underfunded plans, the following are some key changes the PPA made to the general multiemployer funding rules." (American Academy of Actuaries)

Report of Results from Segal's Survey of Multiemployer Pension Plans' Anticipated Zone Status and Funded Percentage under PPA'06 (PDF)
2 pages. Excerpt: "This survey, which updates a survey . . . published last year, reports good news about fewer anticipated red-zone plans and more anticipated green-zone plans. (In the spring, we will report oncalendar-year plans' actual zone status. A fall report will presentthe actual zone status for additional plans.)" (The Segal Group, Inc.)

[Guidance Overview] Form T-1 Rules Proposed by DOL
Excerpt: "The Department of Labor's Employment Standards Administration (ESA) proposes to promulgate a rule that establishes a Form T-1 to be used by labor organizations to file trust annual financial reports with ESA's Office of Labor-Management Standard's (OLMS), provides appropriate instructions, and revises relevant sections of 29 CFR Part 403 relating to such reports. The proposed changes are made pursuant to section 208 of the Labor-Management Reporting and Disclosure Act (LMRDA), 29 U.S.C.438." (International Foundation of Employee Benefit Plans)

2007 Conference Highlights: National Coordinating Committee for Multiemployer Plans
Excerpt: "Click on the links . . . to view the videos of our 2007 Annual Conference in Flash Player format. If you do not have the free Flash Player you can download it by clicking on the red Adobe Flash logo located in the box [on the target page]." (National Coordinating Committee for Multiemployer Plans)

[Guidance Overview] What Multiemployer Health Plan Trustees Need to Know About San Francisco's Employer Health Mandate
Excerpt: "The law's ESR requires immediate attention from employers with employees who work in San Francisco, and from multiemployer plan sponsors with contributing employers employing those employees. Those employers must file their first annual report with the San Francisco government, covering their health care expenditures for 2007, by April 30, 2008,3 and contributing employers may need the assistance of fund offices to do so. This Capital Checkup summarizes details of the ESR, its impact on employers, and what trustees of multiemployer health funds need to know about the mandate." (The Segal Group, Inc.)

[Guidance Overview] PBGC Provides Premium Guidance for Defined Benefit Plans (PDF)
4 pages. Excerpt: "These developments affect sponsors of qualified defined benefit plans that are subject to PBGC premium requirements, including cash balance plans and multiemployer plans. Governmental plans and plans sponsored by churches that do not elect to be covered by ERISA ('non-electing church plans') are not subject to these rules." (Prudential Retirement)

U.S. Department of Labor's Office of Labor-Management Standards Announces '5,000th Indictment'
Excerpt: "In January 2008, the U.S. Department of Labor's Office of Labor-Management Standards (OLMS) marked its 5,000th indictment since recordkeeping began in 1964. During January, OLMS obtained eight convictions, nine indictments and court orders of restitution totaling $121,867." (Health Plan Law blog by Attorney Roy F. Harmon III)

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