Zenith American Solutions 4/30/21 Zenith American Solutions 4/30/21

What’s the News on Lifetime Income Disclosures?

Previously, we provided a brief background on the American Rescue Plan Act of 2021 (“ARPA”) and its potential impact on Multiemployer Defined Benefit Plans. This article provides more details on the various provisions impacting those plans.

Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 3/31/21 Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 3/31/21

Part 2 - American Rescue Plan Act of 2021 Impact on Multiemployer Defined Benefit Plans

The American Rescue Plan Act (ARPA) offers up to $86 billion in relief for underfunded pension plans through 2051. To qualify, plans must meet specific criteria such as being in “critical and declining” status or facing insolvency.

Administered by the PBGC and funded by the Treasury, this program provides a lump sum grant to cover benefits through 2051, including restoring previously cut benefits. Applications are due by December 31, 2025, and the PBGC may prioritize certain plans. For further details, consult your actuary or fund counsel.

Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 3/16/21 Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 3/16/21

American Rescue Plan Act of 2021 Impact on Multiemployer Defined Benefit Plans

The American Rescue Plan Act (ARPA) of 2021 brings significant changes for multiemployer pension plans, addressing funding deficits and enhancing stability. Zenith American Solutions emphasizes the importance of the Special Financial Assistance program under ARPA to support distressed plans. Their team is prepared to help sponsors and participants understand and benefit from the legislation's provisions.

Zenith American Solutions 2/26/21 Zenith American Solutions 2/26/21

One Client Fund is Saving an Estimated $1.3 Million Per Year Through Zenith’s Dependent Audit Verification Process

As your administrator, Zenith American Solutions can help your Fund identify best practices that work well for your membership to minimize unnecessary costs. We can manage all components of your dependent audit and provide annual maintenance according to your specifications.

Zenith American Solutions 10/23/20 Zenith American Solutions 10/23/20

Cut Your Specialty Drug Costs in Half with Zenith PharmAssist

Zenith PharmAssist program includes a specialty funding solution that can eliminate 50% of your current costs. Our enrolled funds are enjoying deep savings…

Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 10/1/20 Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 10/1/20

DC Plan Income Disclosures are Coming

In last quarter’s newsletter, we discussed some of the key changes of last year’s SECURE Act. In August, the DOL released initial guidance and we are now in a 60-day review/comment period…

Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 9/29/20 Steven Mendelsohn, EA, FCA, MAAA, MSPA; Pension Director 9/29/20

SIPs and VAPPs are Hot! But What are They Anyway?

Variable Annuity Pension Plans and Sustainable Income Plans are gaining significant traction in the Multiemployer pension space and this article helps explain why.