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Compass
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PBGC Issues Proposed Rule for Multiemployer Plan Mergers and Transfers
Trucker Huss [Guidance Overview] July 6, 2016 "The proposed rule clarifies PBGC's authority to facilitate the merger of multiemployer plans under section 4231 of ERISA. Facilitation may include training, technical assistance, mediation, communication with stakeholders, and support with related requests to other government agencies.... PBGC may also provide financial assistance to facilitate a merger determined necessary to enable one or more of the plans involved to avoid or postpone insolvency ... The proposed rule presents noteworthy changes to the actuarial valuation requirements for mergers and plan solvency tests." |
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