American Rescue Plan Act
Central States Pension Fund Has Withdrawn and
Resubmitted Application for Special Financial Assistance
In April, we informed participants that Central States Pension Fund submitted an application to the federal government for Special Financial Assistance (SFA) under the American Rescue Plan Act of 2021 (ARPA).
At the time we submitted our application, we understood it was possible that the Pension Benefit Guaranty Corporation (PBGC) would direct the Fund to withdraw it and resubmit a revised version. As we previously notified participants, it is not unusual for this to occur as most pension funds that submitted an SFA application have found it necessary to withdraw and resubmit.
In response to guidance from the PBGC and to take advantage of favorable provisions of the PBGC’s “Final Rule” concerning SFA, we withdrew our original SFA application and submitted a revised version on August 12.
Additional information is available at VoicesForPensionSecurity.com.
We will provide updates about important developments with the SFA application by email, on our websites and on our recorded message hotline at 800-323-7640.