The Congressional Budget Office's estimate of liabilities in the Pension Benefit Guaranty Corp.'s multiemployer insurance program is significantly more than the liabilities published in PBGC's latest Projection Report.

The difference can be explained by the processes economists at CBO and PBGC use to arrive at so-called fair-value estimates of liabilities, according to a new report from CBO that explores options to improve the multiemployer program, which is projected to be insolvent as soon as 2023.

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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.