Bloomberg Law
July 7, 2022, 12:50 PM

Pension Plan Bailout Final Rule Released by Federal Insurer

Austin R. Ramsey
Austin R. Ramsey

The federal government’s private-sector pension insurer has made permanent a rule addressing the bailout of severely underfunded multiemployer pension plans.

The White House concluded its regulatory review of the Pension Benefit Guaranty Corporation rule (RIN 1212-AB53) last week, and the final regulation was released Thursday, scheduled for publication in the Federal Register Friday.

Congress approved $94 billion for union-brokered pension plans as part of President Joe Biden‘s 2021 Covid-19 recovery plan, but the law gave the Pension Benefit Guaranty Corporation discretion to set the parameters by which plans would receive federal stimulus dollars and for how long ...

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