Have the actuaries at the Pension Benefit Guaranty Corp. been asleep at the wheel?
That would be a forgivable response to the agency's Nov. 17 annual report, which revealed a $42.4 billion projected deficit in the PBGC's multiemployer plan, a more than five-fold increase since last year.
Absent legislative changes, the multiemployer program faces a 90 percent chance of running out of money by 2025, the report said.
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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.
