Pension Benefit Guaranty Corporation Approves Central States’ Application for Special Financial Assistance

On December 8, 2022, the Pension Benefit Guaranty Corporation (PBGC) announced that the Central States Pension Fund’s application for Special Financial Assistance (SFA) was approved in accordance with the provisions of the American Rescue Plan Act of 2021. The PBGC has approved approximately $35.8 billion in SFA, which the Fund received on January 12, 2023.

The SFA funding will allow the Central States Pension Fund to avoid insolvency in 2025 and to make a full recovery – reaching full funding over time. Thanks to this development, Central States Pension Fund benefits are secure both now, and long into the future.