hourglass with sand running out PBGC refrains from naming plans publicly. But the Teamsters’ Central States Pension Plan, which covers the retirement benefits of about 400,000 retirees and active participants, is widely understood to be the plan PBGC is referring to. (Photo: Shutterstock)

The Pension Benefit Guaranty Corp.’s Multiemployer Program, which insures the pensions of about 1,400 collectively bargained retirement plans, has a more than 90 percent chance of becoming insolvent in 2025, and a 99 percent likelihood of insolvency by 2026, according to the agency’s newly released FY 2017 Projection Report.

Those odds represent a grimmer picture than what was painted in last year’s report, which put the chance of insolvency at 60 percent for 2025.

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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.

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