IRONWORKERS' LOCAL 340 RETIREMENT INCOME PLAN: $47.8M Pension Benefit Guaranty Corporation Federal Award
Summary
This $47.8M direct payment from the Pension Benefit Guaranty Corporation to the Ironworkers' Local 340 Retirement Income Plan under the American Rescue Plan Act is a pension subsidy for a private multiemployer plan. It has no direct or indirect tie to any publicly traded company.
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Key Takeaways
- 1.The $47.8M award is a pension subsidy to a private union plan, not a contract with a public company.
- 2.No publicly traded companies benefit directly or indirectly from this payment.
- 3.Investors should not associate this contract with any ticker or sector trade.
Market Implications
This contract has no market implications. It does not change the revenue outlook or competitive dynamics for any public company. No tickers are affected.
Full Analysis
The contract is a $47.8M direct financial assistance payment from the Pension Benefit Guaranty Corporation to the Ironworkers' Local 340 Retirement Income Plan, a private multiemployer pension fund. This is not a procurement contract but a subsidy under the American Rescue Plan Act of 2021 to prevent pension insolvency. The recipient is not publicly traded, nor is it a subsidiary of a public company, and there are no publicly traded competitors or supply chain partners that benefit from this specific payment. The listed related bills (e.g., S5255, S5329) are neutral, low-impact resolutions in defense, healthcare, and other sectors with no material connection to this pension subsidy. No presidential actions are directly related. Because the contract supports a private entity's pension obligations, it does not affect any publicly traded company's revenue, backlog, or competitive position. The market impact is negligible, confined to the single private plan.
Connected Signals
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Contract Details
Recipient
IRONWORKERS' LOCAL 340 RETIREMENT INCOME PLAN
Award Amount
$47,810,324
Awarding Agency
Pension Benefit Guaranty Corporation
Sub-Agency
Pension Benefit Guaranty Corporation
Contract Type
DIRECT PAYMENT FOR SPECIFIED USE, AS A SUBSIDY OR OTHER NON-REIMBURSABLE DIRECT FINANCIAL AID (C)
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