The Pension Benefit Guaranty Corporation approved the application submitted to the Special Financial Assistance Program by the Graphic Communications International Union Pressroom Unions’ Pension Plan, the agency announced Monday.
The plan, based in New York City, covers 1,344 participants in the printing industry. The GCIU Pressroom Unions’ Plan will receive approximately $63.7 million in special financial assistance, including interest to the expected date of payment to the plan.
The SFA program was implemented under the American Rescue Plan Act of 2021 to provide assistance to severely underfunded multiemployer pension plans.
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