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PBGC to provide nearly $1 billion to transport workers pension plan

Posted On: Nov. 21, 2022 9:18 AM CST

The Pension Benefit Guaranty Corp. approved nearly $1 billion in special financial assistance to a New York pension plan covering workers and retirees in the transportation industry, Pension & Investments reports. The New York State Teamsters Conference Pension & Retirement Plan, or NYS Teamsters Conference Plan, will receive $963 million in special financial assistance according to a PBGC news release. The NYS Teamsters Conference Plan, which covers 33,643 participants and is based in Syracuse, New York, implemented a benefit suspension in October 2017.