Tag: multiemployer pension plans
The brief’s key findings are: A small, but significant, number of multiemployer pension plans face insolvency in the next 20 years – despite actions to reduce benefits and raise contributions. To avoid insolvency, a Commission with representatives from plans, employers, and unions has proposed allowing plans to cut accrued benefits of current workers and retirees…
The brief’s key findings are: Participants in multiemployer pension plans have their benefits insured by the Pension Benefit Guaranty Corporation (PBGC). However, the PBGC’s guaranteed benefit levels are very low compared to single employer plans. Of greater concern, the PBGC’s insurance fund for multiemployer plans is projected to be exhausted within the next 10 years…
