Afm Epf News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Musician’s Pension Opts for ARPA Over MPRA Trustees are wagering that relief under the most recent COVID-19 stimulus bill will provide a better option than a reduction in benefits. The American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) is betting that the pension relief provisions in the recently passed $1.9 trillion American Rescue Plan Act (ARPA) will provide a better outcome for its participants than a benefits reduction under the Multiemployer Pension Reform Act (MPRA). The fund, which has approximately 50,000 members and is in “critical and declining” status, ...

Previous application to Treasury Department had been rejected over mortality, new entrant rate assumptions. The American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) is hoping the second time is the charm and has reapplied to the US Treasury Department for a reduction in benefits under the Multiemployer Pension Reform Act (MPRA) to help stave off impending insolvency. In August, the Treasury Department denied the fund’s application for a reduction in benefits, saying that the mortality rate and new entrant assumptions it used were “not reasonable under the standards in ...