Select Multiemployer News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Toggle open close Across the United States, 10.8 million workers and retirees belong to about 1,400 multiemployer (union) pension plans.REF These plans are massively underfunded—having promised $673 billion more in pension benefits than they have set aside to pay, and now Congress is poised to hand a select group of these plans at least $86 billion in unconditional taxpayer bailouts. Succumbing to the pressure of unions that failed—often recklessly—to deliver the secure retirements they promised their dues-paying members, lawmakers have included this pension bailout in the so-called COV...

To embed, copy and paste the code into your website or blog: The Employee Benefits Practice is pleased to present the Employee Benefits Developments Newsletter for the month of January 2021.   U.S. Department of Labor Issues Final Prohibited Transaction Exemption Regarding Compensation for Fiduciary Investment Advisers of Retirement Plans and IRAs Consolidated Appropriations Act, 2021 (CAA): Retirement Plan Relief DOL Issues Proxy Voting Regulations for Plan Fiduciaries Retirement Plan Elections/Consents: IRS Extends Temporary Relief From the Physical Presence Requirement for Participant Ele...

On December 27, 2020, the President signed the Consolidated Appropriations Act of 2021 ("CAA") that included a number of COVID-related relief provisions for employee benefit plans.