Preserving Multiemployer Pensions—Promises Made Should Be Promises Kept

Price: $224 OnDemand


Sign up today for an entire year of unlimited access to relevant, timely professional learning courses, including webinars, eLearning courses and OnDemand offerings, and keep your professional credits up to date. All for just $399.

Learn more about the subscription!



The Pension Benefit Guaranty Corporation’s (PBGC) multiemployer plan insurance program is a looming disaster that threatens the most vulnerable Taft-Hartley multiemployer plan retirees. The program now has a deficit of $42.4 billion. It is projected to be insolvent within 10 years, notwithstanding the passage of the Multiemployer Pension Reform Act of 2014 (MPRA).

Legislative relief for the multiemployer plan program has been too little, too late: the incomplete reforms of MPRA may have postponed bankruptcy by only two years. The PBGC’s continuing problems have earned it a place on the Government Accountability Office’s (GAO) High Risk List of programs in financial distress. Meanwhile, sensible GAO recommendations to modernize the agency operations, by diversifying and expanding its board of directors, and providing stable senior management have not been implemented. The PBGC is estimating that one million of the 10 million multiemployer participants in the United States are at risk of having their pensions reduced because their plans and plan sponsors do not have the wherewithal to pay promised pensions.

This at-risk population is likely understated. Anecdotal evidence is that troubled funds are continuing to assume overly optimistic investment returns of 6 percent to 8 percent for the coming decade. A number of troubled plans are relying upon large increases in contribution rates in the outlying years of the rehabilitation period at levels the plan sponsors likely will be unable to afford. In fact, the financial status of these plans may be considerably worse than their regulatory filings will indicate.

This webinar is designed to address the Pension Benefit Guaranty Corporation’s multiemployer program and discuss what can be done to address the challenges facing Taft-Hartley plans.

Educational Objectives:
• Discuss the Pension Benefit Guaranty Corporation’s multiemployer program
• Explore what can be done to address the challenges facing Taft-Hartley plans
• Address the Government Accountability Office’s High Risk List of programs in financial distress
• Review the implications of the Employee Retirement Income Security Act on multi-employee pensions

Who would benefit most from attending this program?
Companies, directors, pension and benefit practitioners interested in legal aspects of pensions and benefits.



George M. Kraw is a founding member of the Kraw Law Group and specializes in the representation of Taft-Hartley benefit funds. He is a former union representative to the Advisory Committee of the Pension Benefit Guaranty Corporation. He is a member of the International Society of Certified Employee Benefit Specialists and is a former chair of the Certified Employee Benefit Specialists Committee of the International Foundation of Employee Benefit Plans. He frequently writes on employee benefit and other law related matters, and has been a contributor to Bloomberg BNA, the National Law Journal, Benefits Magazine, American Lawyer, Los Angeles Daily Journal, and the San Francisco Recorder, among other media. He also is a member of the Pacific Media Workers Guild. George is admitted to practice in California and the District of Columbia.


Katherine Roselin is an associate at the Kraw Law Group. She is admitted to practice law in California. Katherine’s practice focuses on employee benefits. Katherine received her Juris Doctor from Whittier Law School, magna cum laude; and her Bachelor of Arts from the University of California, at Santa Cruz.