The American Recovery Plan Act of 2021 (ARPA) included some important provisions that potentially impact multiemployer plans within our industry. The legislation created a new program at the PBGC to provide special financial assistance to deeply troubled multiemployer plans in the amount needed to enable those Plans to pay full, unreduced participant benefits for 30 years. The legislation also allows all multiemployer plans (except those that receive special financial assistance) extended time to recover from the COVID-19 pandemic. In addition, the legislation increased PBGC premiums to $52 in 2031 to improve the funding of the PBGC.
Mariah M. Becker, MAAA, EA, Director of Research and Education at National Coordinating Committee for Multiemployer Plans (NCCMP), will join Erykka Thompson, SMACNA Assistant Director of Legislative Affairs, and Joye Blanscett, SMACNA Director of Labor Services to:
- Outline the key provisions in ARPA applicable to our multiemployer plans;
- Explain which multiemployer plans will be able to take advantage of relief granted under the ARPA as well as the special financial assistance available to a deeply troubled plans;
- Discuss what NCCMP and SMACNA's priorities are in the regulatory processes around the ARPA & Pension Plans; and
- Take your questions.
This free webinar for SMACNA members will take place on Thursday, May 6, 2021 at 1:00 p.m. eastern and will last approximately 75 minutes. Register today.
Topic: Construction Starts and the Potential Impact of Biden’s Infrastructure Proposal
Date: Thursday, May 6, 2021
Time: 1:00–2:15 p.m. ET
Register now. (Note: You must register to attend this webinar.)