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When multiemployer plans go insolvent, PBGC provides loans that allow plan trustees to pay participants the pension benefits guaranteed by the agency – loans that are “rarely” repaid. (Photo: Shutterstock)

The Pension Benefit Guaranty Corp.’s multiemployer insurance program’s deficit decreased by $11.18 billion in FY 2018, largely due to increases in the interest rates used to project the cost of future liabilities, according to the federal agency’s annual report.

Nick Thornton


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