Can PBGC Save Multiemployer Plans?
Multiemployer pension plans – defined benefit plans established through collectively bargained agreements between labor unions and two or more employers – have been weakened by two financial crises and a slow recovery from the recession.
01. oktober 2014
These plans also have very few active workers relative to retired and separated participants and a burden of orphaned workers from employers that have left the plans. Despite these challenges, the majority of troubled multiemployer plans have required the bargaining parties to negotiate higher contribution rates and some have cut the rate of future benefit accruals; these actions, combined with a strengthening economy, have improved their long-term financial position.
- IB 14-16