The Pension Benefit Guaranty Corporation (PBGC) recently issued a press release announcing that the Multiemployer Insurance Program remains in a dire financial condition, nearing insolvency. The agency’s insurance program for multiemployer pensions, covering more than 10 million people, will likely run out of money by the end of fiscal year 2025, according to the FY 2018 Projections Report. On the other hand, the PBGC’s projection for the Single-Employer Program shows continued improvement. However, these positive projections are subject to a range of potential outcomes due to the Program’s sensitivity to economic conditions.
PBGC’s Multiemployer Insurance Program Faces Insolvency, While Single-Employer Program Improves
By Charnae Supplee and Stephen Pavlick on September 17, 2019
Posted In Employee Benefits, Retirement Plans
Charnae SuppleeCharnae Supplee focuses her practice on employee benefits and executive compensation matters. She has experience working on matters related to 401(k) and pension plans, cafeteria and welfare plans, nonqualified deferred compensation arrangements, and employee stock ownership plans. Charnae assists clients in drafting employee benefit plan documents and amendments. She advises clients on employee benefits design, implementation and transition matters, and immigration issues during corporate mergers and acquisitions. Read Charnae Supplee's full bio.
Stephen PavlickStephen Pavlick focuses his practice on employee benefits matters for multinational corporations. He concentrates on qualified plans, related fiduciary and other Employee Retirement Income Security Act (ERISA) issues, deferred compensation and equity arrangements, and funding strategies for post-retirement welfare benefits. He has worked extensively with cash balance plans. Read Stephen Pavlick's full bio.
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