It’s not the first time, and it may not bethe last if Congress doesn’t act. Julio Portalatin, CEO ofconsultant Mercer, is again speaking out against premium increasesfor the Pension Benefit Guaranty Corp. thatwent into effect with the passage of the Bipartisan Budget Act of2015.
In April, the PBGC said in a report that premiums were not high enough tosustain its multiemployer insurance program. It did not, however,specify how much premiums should be increased to avoid ashortfall.
Congress sets the premiums, and while there is no variable ratepremium in the multiemployer plan, there is a variable rateassessed on some sponsors in the agency’s single-employerprogram.
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