Graphic Communications Conference of the International Brotherhood of Teamsters
National Pension Fund
455 Kehoe Blvd., Suite 101 | Carol Stream, Illinois 60188 | Telephone: 630-871-7733 | Fax: 630-871-0666 | Internet: www.gccibt-npf.org
( Formerly the Graphic Communications Conference of the International Brotherhood of Teamsters Supplemental Retirement & Disability Fund )
On July 9, 2021, the Pension Benefit Guaranty Corporation ("PBGC") released interim regulations for multiemployer pension funds seeking Special Financial Assistance ("SFA") under the American Rescue Plan Act (“ARPA”).
While the new legislation was intended to provide sweeping and broad-based relief to multiemployer pension plans like the GCC/IBT National Pension Fund ("NPF"), the PBGC's interpretation of ARPA has created uncertainty in the benefits community. Many multiemployer pension plans, including the NPF, filed critical comments with the PBGC in hopes that the PBGC will amend its interim regulations. The PBGC is expected to issue final regulations in early 2022.
Under the terms of the existing PBGC regulations, the NPF will not be able to apply for the SFA until January 2022. The NPF is projected to become insolvent in May 2022.
The NPF's Board of Trustees, professional advisers and staff continue their review and preparations for filing of the NPF's Application for the Special Financial Assistance while waiting to see if the PBGC changes its interim regulations.
GRAPHIC COMMUNICATIONS CONFERENCE OF THE INTERNATIONAL BROTHERHOOD OF TEAMSTERS NATIONAL PENSION FUND
Copyright © 2021. All Rights Reserved.
455 Kehoe Boulevard, Suite 101
Carol Stream, IL 60188
Fund Office: (630) 871-7733
***The GCC/IBT-National Pension Fund is searching for missing Participants***
YOU, A RELATIVE OR ACQUAINTENCE MAY BE ENTITLED TO PENSION BENEFITS
If you have received a phone call, mailing or email from Fund representatives,
IT IS NOT A SCAM -- Please respond to us for more information
or send an email to firstname.lastname@example.org or call the Fund Office at 630-871-7733
PENSION BENEFIT GUARANTY CORPORATION'S RULES FOR SPECIAL FINANCIAL ASSISTANCE TO MULTIEMPLOYER PENSION PLANS ARE UNDER REVIEW
For more information, read the August Pension Communicator by clicking on the image of the cover above. The NPF will be updating this website as more information becomes available. Check back from time to time for the latest information and links to other information sources.
PBGC Faces Barrage of Criticism
U.S. Department of Labor Issues Guidance Regarding the
Extension of Benefit Appeal/Claim Deadlines
The U.S. Department of Labor has issued guidance regarding the extension of benefit appeal deadlines as a result of the COVID-19 pandemic. This information is time sensitive so if you have any pending appeals or claims, please Click on the following link for more information: DOL Appeal/Claim Extension Guidance
CLICK TO DOWNLOAD AUGUST PENSION COMMUNICATOR