PBGC Approves $16 Million in Special Financial Assistance for the LIUNA Local Union No. 1822 Pension Fund
The Pension Benefit Guaranty Corporation (PBGC) announced the approval of a Special Financial Assistance (SFA) application submitted by the Laborers’ International Union of North America Local Union No. 1822 Pension fund, which covered 525 participants in the construction industry in Syracuse, New York. The LIUNA Local 1822 Fund will receive $16 million in SFA, including interest to the expected date of payment to the plan.
SWACCA helped to include the SFA program in the American Rescue Plan Act at the height of the COVID-19 pandemic and was actively engaged in the deliberations over the regulations that implemented the program.
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