ARPA Final Rule Expected In January

I was a summer associate back in 1996 when, just steps from our old offices at 1585 Broadway, people lined up for blocks outside the Nederlander Theatre in the hopes of getting tickets to the hot, new-to-Broadway show that was captivating audiences nightly.  Those lucky enough to score tickets to Rent would soon get to hear Mimi, played by original cast member Daphne Rubin-Vega, belt out the famous lyrics, "It's gonna be a happy new year."

Fast forwarding to the year 2022, will it be a happy new year? Many multiemployer plans and their participants, contributing employers and unions certainly hope so, as they eagerly anticipate the issuance of a Pension Benefit Guaranty Corporation ("PBGC") final rule that may answer the question for them.  Specifically, in its recent Statement of Regulatory and Deregulatory Priorities, released on December 10, the PBGC reported that it expects to publish in January 2022 a final rule on multiemployer pension relief for troubled