The Pension Benefit Guaranty Corporation has approved the exertion from the Akron, Ohio-based Bricklayers’ and Allied Craftsmen Local 7 Pension Plan for the Special Financial Assistance Program successful Akron, Ohio, according to PBGC Monday.
The program volition person $32.7 cardinal to reconstruct antecedently suspended benefits nether the Multiemployer Pension Reform Act of 2014 and to marque payments to retirees to screen anterior payment suspensions, the bureau said. PBGC’s Multiemployer Insurance Program besides volition beryllium repaid $1.4 cardinal for fiscal assistance provided to the plan.
The backing volition let outgo of status benefits without simplification for galore years into the future, ...
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