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

We hope that you had a terrific Memorial Day Weekend. Unfortunately, the weather (in NJ) played havoc with schedules, as rain washed out parades, BBQs, and visits to the beach among other planned activities.

There isn’t much to report regarding ARPA and the PBGC’s implementation of this critical pension legislation, as there were no applications submitted, approved, denied, or withdrawn during the prior week. As I’ve been reporting, we are getting down to the knitty gritty in terms of ARPA and the PBGC’s role, as everything is supposed to be wrapped up by December 31, 2026.

There is still no word on how the 80 PlansTerminated by Mass Withdrawal before 2020 Plan Year will be handled by the PBGC, if at all. If they are not permitted to submit applications, the PBGC still must deal with 41 plans and their applications that are either currently being reviewed or those that will be resubmitted.

Uncertainty surrounding a “deal” in Iran continues to weigh on inflation expectations and U.S. interest rates. As a result, rates remain at elevated levels providing those plans fortunate to receive SFA an opportunity to secure benefits (and expenses) at attractive levels. One such plan, Teamsters Local 277 Pension Fund, has just received (5/18) $20.6 million in SFA and interest for its 1,633 plan members.