Compensation Strategies Group, Ltd.
Nova 401(k) Associates
Nicholas Pension Consultants
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|Mixed News for Employers as PBGC Releases Multiemployer Bailout Plan Rule|
July 19, 2021
"Some employers had also hoped that receipt of SFA would allow plans to cut future contribution rates. However, PBGC dashed this idea by stating that contribution rates cannot be reduced below the rates in effect on March 11, 2021 (the date the bailout legislation was enacted), plus any rate increases called for in collective bargaining agreements in effect on that date. And, since all plans receiving SFA are in critical status, it is likely that existing rehabilitation plan contribution increases will remain in place."
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