Constrafor, a leading construction software and financial services company, announced immediate relief and a plan of action for construction firms following the recent collapses of Silicon Valley Bank in California and Signature Bank in New York.

The Pension Benefit Guaranty Corporation released its List of Plans in Special Financial Assistance Application Priority Group 6, which consists of plans for which PBGC projects a present value of financial assistance payments under section 4261 of the Employee Retirement Income Security Act that would exceed $1 billion in the absence of SFA. The application period for Priority Group 6 plans is scheduled to open on Feb. 11, 2023.