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

I hope that you had a wonderful last weekend in May. My wife and I went back to Fordham to celebrate my 45th reunion. How is that possible? Great to see the campus and slightly older friends!!

Regarding ARPA and the PBGC’s implementation of this important pension legislation, there is nothing new to report. There remain seven applications currently being reviewed by the PBGC. Bricklayers Local No. 55 Pension Plan, a Columbus, OH-based plan, is seeking $6.4 million in SFA for its 483 members. Their 120-day review period is up on 6/25. The PBGC must act on the application by that date, or it is approved.

In other news, there were no new applications submitted, rejected, or withdrawn. Unfortunately, no applications were approved. We are still waiting on the last non-Mass Withdrawal applicant to file. Plasterers Local 79 Pension Plan, which was added to the waitlist on March 25, 2025, waits for the PBGC’s eFiling-portal to reopen.

I’d appreciate hearing from folks or sponsors of these multiemployer plans who have benefited from the SFA to share what it has meant to them or their participants and how it has impacted their financial future, especially those plans that were originally impacted by MPRA. As a reminder, I followed Carol’s story for a couple of years. I’ve heard that she’s now doing much better. I hope that you are, too!