By: Russ Kamp, Managing Director, Ryan ALM, Inc.
Welcome to another weekly update regarding the ARPA pension legislation. The PBGC has not updated its spreadsheet since August 12th, although it appears that two additional plans have filed a supplemental application following the release of the PBGC’s Final Final Rules (FFR). The two plans are the Graphic Arts Industry Joint Pension Plan and the Teamsters Local 617 Pension Plan. I’ll have more detail on these two plans once the PBGC updates its website.
No Priority Group 4 plans, those projected to become insolvent before 3/11/2023, have filed an application to receive the Special Financial Assistance (SFA) despite that window opening on July 1, 2022. I would have expected a plethora of activity once the FFR has been released.
We’ll be providing an additional update once the data becomes available. Until then, we wish you a great week. Let’s hope that our capital markets cooperate.