Friday, February 01, 2013
Tweet[IWS] PBGC: MULTIEMPLOYER PENSION PLANS [22 January 2013]
IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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Pension Benefit Guaranty Corporation (PBGC)
MULTIEMPLOYER PENSION PLANS [22 January 2013]
Report to Congress Required by the Pension Protection Act of 2006
http://www.pbgc.gov/documents/pbgc-report-multiemployer-pension-plans.pdf
[full-text, 84 pages]
More than 10 million Americans working in a wide range of industries depend on about 1,500 private-sector multiemployer defined benefit plans to secure their retirement income. Multiemployer plans provide portability for workers as they move to different employers or job sites within the same industry.
This study focuses on multiemployer defined benefit pension plans. There were also nearly 1,300 multiemployer defined contribution pension plans that held about $105 billion in assets in 2010 on behalf of approximately 4 million participants
Press Release 29 January 2013
Multiemployer Plan News and Info
http://www.pbgc.gov/res/annual-reports/multiemployer-plan-news-and-info.html
On January 29, 2013, the federal ERISA agencies sent to Congress several reports on multiemployer pension plans insured by PBGC. They provide information on the financial health of multiemployer plans and the PBGC’s multiemployer insurance program, but make no recommendations. They should be helpful as Congress considers potential changes to multiemployer pension laws and to PBGC’s multiemployer insurance program.
Multiemployer Plan Report
Reports on multiemployer plans and the effects of the PPA
PBGC’s Multiemployer Program
Reports that current premiums will be inadequate to maintain current guarantee levels
Click for each report. Other sources of information on multiemployer plans are listed below.
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