Tag: Pension Benefit Guaranty Corporation (PBGC)
Select committee faces November deadline to propose a solution. Policymakers in Washington are hard at work trying to find a solution to the multiemployer plan crisis. A solution is essential because multiemployer plans pay relatively low benefits to relatively low-paid workers. Without these benefits, many would be destitute. The focus of current efforts is t…
Government missteps allowed the situation to get as bad as it is. For those of you who do not think about pensions on a daily basis, multiemployer plans are private sector defined benefit plans created by collective bargaining agreements between a labor union and two or more employers. They typically exist in industries with many…
