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PBGC Approves SFA Application for Bricklayers Local 7 Plan
Pension Benefit Guaranty Corporation [PBGC] Oct. 25, 2022 "[PBGC] has approved the application submitted to the Special Financial Assistance (SFA) Program by the Bricklayers and Allied Craftsmen Local 7 Pension Plan.... The plan, based in Akron, Ohio, covers 397 participants in the construction industry. On October 1, 2020, the Bricklayers Local 7 Plan implemented a benefit suspension under [MPRA] and was partitioned into two plans.... The plan will receive $32.7 million in SFA, including interest to the expected date of payment to the plan." |
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