Pension bailout

House committee still seeking answers on pension bailout overpayments

Republican members of a House committee are still seeking answers over the mismanagement of bailout money distributed to failing pension plans.

A Wednesday letter penned by Reps. Virginia Foxx, R-N.C., and Bob Good, R-Va., called on Attorney General Merrick Garland to provide all communications surrounding the Department of Justice’s investigation into more than 60 multiemployer pension plans that were alleged to erroneously include dead plan participants on their special financial assistance...

https://www.freightwaves.com/news/house-committee-still-seeking-answers-on-pension-bailout-overpayments

Delaware judge to determine fate of pensions’ $7B in claims against Yellow

A bankruptcy judge will soon decide the outcome of more than $7 billion in liability claims from multiemployer pension plans (MEPPs) against bankrupt Yellow Corp. Discrepancies around the interpretation of Congress’ directives and intentions in a 2021 pension fund bailout package were at the center of a Tuesday hearing in a Delaware courtroom.

Counsel for the MEPPs that Yellow (OTC: YELLQ) once contributed to argued that the plans aren’t required to include special financial assistance received...

https://www.freightwaves.com/news/delaware-judge-to-determine-fate-of-pensions-7b-in-claims-against-yellow

The Daily Dash: Pension bailout possible for Yellow, ABF drivers; record Q4 for XPO

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, the COVID-19 relief bill working through Congress may be the vehicle through which pension reform happens for multiemployer pension plans, including those of Yellow and ABF Freight. Plus, a strong freight market led to a record quarter for XPO, and Uber Freight posts revenue growth in Q4.

Legislative fix?

The COVID-19 relief bill could serve as a vehicle to bail out multiemployer pension funds,...

https://www.freightwaves.com/news/the-daily-dash:-pension-bailout-possible-for-yellow-abf-drivers;-record-q4-for-xpo