UFCW Midwest Pension Plan Approved for Financial Assistance

The Pension Benefit Guaranty Corporation announced that it has approved the application submitted to the Special Financial Assistance program by the United Food and Commercial Workers Unions and Employers Midwest Pension Plan, according to the PBGC Thursday.

The plan, based in Rosemont, Ill., covers 35,223 participants in the service industry. The UFCW Midwest Pension Plan will receive approximately $1.2 billion 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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