Tag: multiemployer pension plans
Yes, COVID did not cause multiemployer woes, but the help is long overdue. The $1.9 trillion rescue package enacted recently includes an estimated $86-billion aid package for multiemployer pension plans. This assistance will give the weakest plans enough money to pay benefits for the next 30 years. Critics claim that the rescue should not hav…
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…
