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PBGC bulding with sign Signage is displayed outside the Pension Benefit Guaranty Corp. (PBGC) building in Washington, D.C. (Photo: Andrew Harrer/Bloomberg)

The Pension Benefit Guaranty Corporation (PBGC) today announced an interim final rule implementing a new Special Financial Assistance Program for financially troubled multiemployer defined benefit pension plans.

Just as the fight over assistance for these union pension plans has been complicated and lengthy, stretching across several years and several Congresses, so too is the rule: It clocks in at 123 pages. In brief, the interim rule does the following:

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C.J. Marwitz

C.J. Marwitz is the editor for the retirement industry audience and a digital managing editor at BenefitsPRO. She is currently considering pitches for unpublished contributed content related to the employer-sponsored retirement plan arena. A former technology editor, advertising copywriter, and academic advisor, Marwitz is the mother of three and walker/stick-thrower/treat-giver to a Welsh Corgi named Leeloo.

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