"Given the Appeals Court's decision that terminated plans are eligible for SFA, there is a significant risk that a majority of the 123 terminated/insolvent plans will apply for SFA, estimated to be $6 billion, that PBGC and other government entities had not anticipated. Further, within these payments several billion dollars in taxpayer funds may be wasted on repayments [from SFA funds] to PBGC [for loans previously granted as traditional financial assistance] ... PBGC also risks approval of plans' applications by default due to the volume and time needed to properly review applications." [Bd. of Trustees of the Bakery Drivers Local 550 and Industry Pension Fund v. PBGC, No. 23-7868 (2d Cir. Apr. 29, 2025)]  MORE >>