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Pension agency paints grim picture for multiemployer program

AUGUST 27, 2019 | by Tom Ichniowski | ENGINEERING NEWS-RECORD

“The federal agency that insures pension plans says that its program to assist ailing multiemployer plans will turn insolvent at the end of the 2025 fiscal year unless Congress comes up with a remedy. … More than half of multiemployer plans are in construction's unionized sector …The 2017 study also said there was a 90% likelihood that the PBGC's multiemployer program would run out of funds in fiscal 2025” 

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