Given all the negative headlines about the worst-funded, collectively bargained, multiemployer plans, it might be hard to believe that most are posting funding levels that rival defined benefit plans in the corporate sector.
More than two-thirds of plans are in the "Green Zone," the healthiest level of funding status as designated by the Pension Protection Act of 2006.
Green Zone status requires a minimum funding level of 80 percent—and 65 percent of multiemployer plans meet that criterion. For all plans, the average funding level is 88 percent, according to a new survey Segal Consulting, a New York-based benefits consultancy.
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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.
