New Report on Multiemployer Pensions Released

On April 5, the Government Accountability Office issued a report on the Pension Benefit Guaranty Corporation’s (PBGC) multiemployer safety net program. The report is another in a series of government reports highlighting the underlining problems of the pension system and the need for substantive changes to the system. AGC has been working in a cross industry, labor and management coalition advocating for private sector solutions that would improve the ability of plans to keep contributing employers, improve retirement security for participants, and help prevent the need for taxpayer funds of the PBGC in the future. The recommendations would provide plan trustees and bargaining parties the tools to address challenges facing their specific plan. For more information, please contact Jim Young at (202) 547-0133 or youngj@agc.org.