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You’re invited to join Pension Benefit Guaranty Corporation (PBGC) staff July 22, 2021, at 1:00 p.m. EDT for a webinar on the agency’s interim final rule implementing a new Special Financial Assistance (SFA) Program for financially troubled multiemployer defined benefit pension plans.
The program, established by provisions in the American Rescue Plan (ARP) Act of 2021, is expected to:
- Provide an estimated $94 billion in assistance to eligible plans that are severely underfunded,
- Assist plans by providing funds to reinstate previously suspended benefits, and
- Address the solvency of PBGC’s Multiemployer Insurance Program, which was projected to become insolvent in 2026.
Thursday’s webinar will build on PBGC’s introductory webinar held July 9, 2021, with more details for plan practitioners on the application process, assumptions, guidance, and resources.
Speakers will include PBGC and Treasury Department experts:
Ross Marcelin
Director
Office of Negotiations & Restructuring
Plan Compliance Department
(PBGC)
Julie Cameron
Supervisory Actuary
Office of Negotiations & Restructuring Actuarial Department
(PBGC)
Darren French
Senior Actuary
Office of Policy & External Affairs
Policy, Research and Analysis Department
(PBGC)
Harlan Weller
Senior Actuary
Office of Tax Policy
(U.S. Department of the Treasury)
Click here to join the briefing: https://us02web.zoom.us/j/86308458388?pwd=Wk00TE5qeFRhOGlaeVlyQTQvajNJZz09
Passcode: 437892
See additional information on the interim final rule on PBGC’s SFA Program page.
Thank you.
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