(Credit: Komkrich Marom/Shutterstock)

In an effort to stave off reduced benefits to the Freight Drivers and Helpers Union No. 57 in Baltimore, the Pension Benefit Guaranty Corporation (PBGC) has approved an application to the Special Financial Assistance Program (SFA) allowing them to receive $192.8 million to assist payments with their underfunded pension plan. The Union plan was expected to run out of money in 2023.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.