By: Russ Kamp, CEO, Ryan ALM, Inc.

Welcome to the last update for July. I don’t know how you feel, but it certainly seems as if Summer 2025 has been a blur. Based on last week’s activity, it doesn’t appear that the excessive heat and humidity has negatively impacted the PBGC’s activity. Good for them.

With regard to the ARPA legislation, the week ending July 25th saw one new application filed, another three approved (yes!), one more repayment of excess SFA funds, and another two multiemployer plans added to the waitlist, which continues to grow despite a deadline for action on the applications that is drawing near.

Distributors Association Warehousemen’s Pension Trust, a non-priority group member, has filed a revised application seeking nearly $30 million in SFA for their 3,358 plan participants. The PBGC has until November 21, 2025, to act on the application.

Pleased to announce that the PBGC has approved the SFA applications for United Food and Commercial Workers Unions and Participating Employers Pension Plan, the Chicago Truck Drivers, Helpers and Warehouse Workers Union (Independent) Pension Fund, and the Bricklayers Pension Fund of Western Pennsylvania. Each of the applications were the initial filings. In total, these funds will receive $303 million in SFA plus interest for the 15.3k participants.

As previously mentioned, Pension Plan of the Printers League – Graphic Communications International Union Local 119B, New York Pension Fund has agreed to return $1.4 million in SFA or 1.34% of the $106.7 million in SFA and interest received.

Finally, Teamsters Local 264 Van Drivers Pension Fund and UFCW Local 2013 Pension Fund have been added to the waitlist, which has ballooned to 160 members of which 76 are still waiting to file an SFA application with the PBGC.