PBGC’s Multiemployer Pension Program Nears Insolvency

Seven seems to be the magic number when it comes to the number of years of insurance multiemployer pension programs have left. The Pension Benefit Guaranty Corporation recently released its projections report for fiscal 2017, and in it, the firm pinpoints the year in which the insurance program which is supposed to support struggling multiemployer pensions will become insolvent.

Pensioners: beware 2025

The PBGC is tasked with providing insurance to private pension plan participants to ensure that, even if their pension plan becomes insolvent, they receive all or at least some of the payments they expected to receive when they originally signed...