Employee Benefits News examines legal developments that impact the employee benefits and executive compensation employers provide, including federal and state legislation, rules from federal...
We’re tracking the health of U.S. pension plans and providing numbers each week on various pension topics.
This week we focus on the Pension Benefit Guaranty Corporation’s multiemployer program. It covers 10 million unionized workers and retirees who receive pensions as part of collective bargaining agreements between unions and employers in the same industry. There are about 1,400 multiemployer plans.
More than 100 of those plans are facing insolvency, and that’s putting a lot of pressure on the PBGC. The agency said in its 2017 annual report that the multiemployer program had hit an all-time high deficit--$65 billion. That deficit has grown exponentially over the past 10 years.
There’s also been a growing number of multiemployer plans requiring financial assistance from the PBGC. In 1995, only nine plans asked for help. Seventy-two plans received financial assistance from PBGC in 2017.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)