PBGC to provide financial boost to severely underfunded multiemployer plans

Approximately 200 troubled multiemployer defined benefit pension plans covering some 3 million workers will get help from the Pension Benefit Guaranty Corporation, according to 401K Specialist. The funds were earmarked by the American Rescue Plan stimulus package. “Collectively, these plans hold about $496 billion in assets but face $1.2 trillion in liabilities for a net liability of $672 billion,” according to the American Action Forum, quoted in the article.

BI-square-white
More Like This
View all posts from

Ads

Ads

Ads