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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