Remove 2022 Remove Employment Remove Pension Benefit
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The Impact of Indexing: 13 Real World Examples

Money Talk

As we close out 2021 and get ready to welcome 2022, it is a good time to consider the impact of indexes (a.k.a., In 2022, beneficiaries will receive a 5.9% Pension COLAs - Pension benefits for some retirees are also indexed for inflation. a $59 increase for every $1,000 of benefits) in 2022.

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Financial Implications of Working in Later Life

Money Talk

of Americans age 65+ were working in 2022. Social Security Earnings Limit- Those who claim Social Security before full retirement age will have their benefits reduced $1 for every $2 they earn over $21,240 (2023 limit). If earnings replace prior years in a 35-year benefit formula, benefits will rise. An estimated 21.9%

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PBGC (Slightly) Opens Door to Exceptions From Special Withdrawal Liability Rules for SFA Multiemployer Pension Plans

Proskauer's Employee Benefits & Executive Compensa

As previously discussed , the Pension Benefit Guaranty Corporation (the “PBGC”) issued final regulations in July 2022 for plans that receive special financial assistance (“SFA”) under the American Rescue Plan Act of 2021 (“ARPA”). The details of the process are outlined in the update to the final regulations.

Pension 98
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[Podcast]: Special Financial Assistance for Multi-employer Pension Plans (Part 2)

Proskauer's Employee Benefits & Executive Compensa

This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA).

Pension 98
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42 Years in the Making: PBGC Proposes Regulation on Interest Rate for Withdrawal Liability Calculations

Proskauer's Employee Benefits & Executive Compensa

A hotly debated (and litigated) issue for multiemployer pension plans in recent years has been the appropriate interest rate to determine a multiemployer pension plan’s liabilities when calculating the plan’s underfunding for withdrawal liability purposes. Comments on the proposed regulations are due by November 14, 2022.

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ARPA Final Rule Expected in January

Proskauer's Employee Benefits & Executive Compensa

Fast forwarding to the year 2022, will it be a happy new year? Many multiemployer plans and their participants, contributing employers and unions certainly hope so, as they eagerly anticipate the issuance of a Pension Benefit Guaranty Corporation (“PBGC”) final rule that may answer the question for them.

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Do employees really need to be concerned about the Lifetime Allowance right now?

Employee Benefits

As of December 2022, the UK Inflation rate stood at 10.5% Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This is particularly the case where employees are making healthy contributions to their pension scheme and perhaps receiving matching employer contributions.

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