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PBGC Says It Will Help Multiemployer Plans Seeking Mergers

Law360 (September 13, 2018, 10:10 PM EDT) -- The underfunded federal agency that oversees underfunded pension plans will soon allow certain plans to ask for help if they want to pool their resources to stay afloat, the Pension Benefit Guaranty Corp. announced Thursday.

Starting in October, underfunded multiemployer plans seeking to merge with each other can ask the PBGC for guidance and financial assistance during the process, the agency wrote in a draft final rule scheduled to be published in the Federal Register Friday.

Because of the PBGC’s financial state, however, there are restrictions...
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