"Guaranteed" Pension Benefits Could Drop More Than 90 Percent
Created on July 30, 2015
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Read the original report, "Bankrupt Pensions and Insolvent Pension Insurance The Case of Multiemployer Pensions and the PBGCs Multiemployer Program," by Rachel Greszler.
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Current workers and retirees with multiemployer pensions could be left with pennies on the dollar if their plans fail and the PBGC becomes insolvent—or worse, nothing if the PBGC goes bankrupt.
Source: Charles Jeszeck, “Private Pensions: Multiemployer Plans and PBGC Face Urgent Challenges,” testimony before the Subcommittee on Health, Employment, Labor and Pensions, Committee on Education and the Workforce, U.S. House of Representatives, March 5, 2013, http://www.gao.gov/assets/660/652687.pdf (accessed April (accessed April 16, 2015).
CHART 2 • BG 3029
Tags: pensions, Pension-Benefit-Guaranty-Corporation, insolvent