On March 11, 2021, the American Rescue Plan Act (ARPA) became law and contained provisions for pension funding relief for single and multi-employer plans.
The legislation also provides funding to the PBGC to assist distressed multi-employer defined benefit plans that were expected to be insolvent in the next decade. Plans that suspended benefits will be qualified for reinstatement.
*Source: Congress Bill H.R. 423, Fidelity Investments, Benefit Plans Administrative Services Plan sponsors should consult the legislation and actuarial/legal professionals.