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Lawmakers warn of economic fallout from failing pensions

JULY 19, 2018 | by Becca Schimmel, Ohio Valley Resource | WEST VIRGINIA PUBLIC BROADCASTING

“As lawmakers on the Joint Select Committee on Solvency of Multiemployer Pension Plans explored the issue they heard warnings of dire effects if major pension plans fail -- not just for employees in those industries but for the larger economy. … Sen. Rob Portman, an Ohio Republican on the joint committee, warned that if even one of the larger plans becomes insolvent that could put the Pension Benefit Guaranty Corporation at risk as well.” 

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