The Pension Benefit Guaranty Corporation (PBGC) released its List of Plans in Special Financial Assistance (SFA) Application Priority Group 6, which consists of plans for which PBGC projects a present value of financial assistance payments under section 4261 of the Employee Retirement Income Security Act (ERISA) that would exceed $1 billion in the absence of SFA. The application period for Priority Group 6 plans is scheduled to open on February 11, 2023.
The list includes: (1) the Laborers National Pension Fund; and (2) the Ohio Carpenters Pension Plan. The full SFA Priority Group 6 Plan List is available through the PBGC’s website here.