The Partnership for Multiemployer Retirement Security, an organization of business and labor interests, released a series of projections on Tuesday on an unnamed MEP that it said could fall into insolvency unless Congress passes reforms by year-end.
"We can't wait a moment longer for Congress to reform the multiemployer pension system," the partnership in a statement.
The partnership was formed last year with the release of "Solutions Not Bailouts," a proposal for reform developed by the National Coordinating Committee for Multiemployer Plans that, if enacted, would give trustees of MEPs the power to reduce retirement benefit payments by up to 10 percent.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
