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ON DEMAND: Employee Benefits Series: Special Financial Assistance for Multiemployer Plans Under ARPA
After years of proposals around how to address the crisis facing severely underfunded multiemployer pension plans, the American Rescue Plan Act created a new special assistance program to stabilize the system. The PBGC estimates that it will pay approximately $94 billion in special financial assistance to plans covering more than 3 million participants and beneficiaries.
The D.C. Bar's Employee Benefits Committee is pleased to welcome Kendra Isaacson, Senior Pensions Counsel for the Senate Committee on Health, Education, Labor, and Pensions, Justin Alex, a partner at Proskauer Rose, and Josh Shapiro, Senior Actuarial Advisor at Groom Law Group, to discuss, among other things:
Background on the multiemployer plan funding crisis and how the legislation came to be
How the law offers assistance to financially troubled multiemployer plans
PBGC guidance issued under ARPA
Experience with the special financial assistance program so far
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Sponsored by: Employee Benefits Committee of the D.C. Bar Taxation Community
Speakers:
Justin S. Alex, Partner, Proskauer Rose LLP
Kendra Isaacson, Senior Pensions Counsel, Senate Committee on Health, Education, Labor, and Pensions
Josh Shapiro, Senior Actuarial Advisor, Groom Law Group
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